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

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by analysts at Truist Financial from $145.00 to $130.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price would indicate a potential upside of 13.95% from the company’s previous close.

A number of other analysts also recently weighed in on ENPH. Wells Fargo & Company raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Piper Sandler dropped their price target on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. Morgan Stanley raised their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada initiated coverage on shares of Enphase Energy in a report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $147.38.

Enphase Energy Trading Up 3.2 %

NASDAQ ENPH traded up $3.58 during trading on Tuesday, hitting $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 current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a one year low of $73.49 and a one year high of $228.36. The company has a market cap 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. The company’s fifty day moving average is $119.48 and its 200-day moving average is $112.01.

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

Insider Activity

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of the 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 transaction, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

Hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new stake in Enphase Energy in the 4th quarter valued at approximately $26,000. Geneos Wealth Management Inc. increased its position in Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 102 shares during the period. CVA Family Office LLC acquired a new stake in Enphase Energy in the 4th quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its position in shares of Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the period. Finally, Covestor Ltd increased its position in shares of Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the period. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.