Truist Financial Trims Enphase Energy (NASDAQ:ENPH) Target Price to $130.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by research analysts at Truist Financial from $145.00 to $130.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s price target indicates a potential upside of 13.95% from the company’s current price.

Other equities analysts have also issued reports about the stock. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Piper Sandler decreased their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. Roth Mkm reiterated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Thursday, April 18th. B. Riley boosted their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays upped their price objective on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $147.38.

Enphase Energy Stock Up 3.2 %

Shares of ENPH traded up $3.58 during mid-day trading on Tuesday, reaching $114.09. The company had a trading volume of 2,819,291 shares, compared to its average volume of 4,042,282. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm has a 50-day moving average price of $119.48 and a 200 day moving average price of $112.01. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 3.07 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. On average, sell-side analysts forecast that Enphase Energy will post 2.01 EPS for the current year.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Norges Bank purchased a new position in shares of Enphase Energy in the fourth quarter valued at approximately $149,425,000. Nordea Investment Management AB lifted its position in shares of Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Enphase Energy during the fourth quarter worth approximately $41,068,000. Finally, Panagora Asset Management Inc. lifted its position in Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after buying an additional 255,175 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.