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

Enphase Energy (NASDAQ:ENPH) had its price target reduced by Truist Financial from $145.00 to $130.00 in a research note released on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the semiconductor company’s stock.

ENPH has been the topic of several other research reports. Royal Bank of Canada began coverage on Enphase Energy in a report on Wednesday, February 14th. They set an outperform rating and a $140.00 price objective on the stock. Susquehanna reissued a positive rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Mizuho cut their target price on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a report on Friday, April 19th. B. Riley lifted their target price on Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a report on Monday, April 22nd. Finally, Oppenheimer raised Enphase Energy from a market perform rating to an outperform rating and set a $133.00 target price on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of ENPH opened at $111.93 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.16 and a beta of 1.47. The business’s fifty day moving average is $118.22 and its 200-day moving average is $111.90.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Equities analysts anticipate that Enphase Energy will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Richard Mora sold 24,285 shares of the company’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 completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was acquired 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 owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently modified their holdings of the business. Pinnacle Associates Ltd. grew its holdings in shares of Enphase Energy by 25.8% in the first quarter. Pinnacle Associates Ltd. now owns 2,510 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 515 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy in the first quarter valued at approximately $35,000. Clear Creek Financial Management LLC bought a new position in shares of Enphase Energy in the first quarter valued at approximately $225,000. Lindbrook Capital LLC lifted its stake in Enphase Energy by 50.9% in the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 144 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Enphase Energy by 14.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock valued at $3,577,000 after purchasing an additional 3,700 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

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.