Enphase Energy (NASDAQ:ENPH) PT Lowered to $130.00 at Truist Financial

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Truist Financial from $145.00 to $130.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. Barclays raised their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Canaccord Genuity Group began coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price for the company. Oppenheimer upgraded shares of Enphase Energy from a market perform rating to an outperform rating and set a $133.00 target price for the company in a report on Wednesday, February 7th. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a buy rating and a $142.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $141.00.

Enphase Energy Stock Up 0.6 %

ENPH stock opened at $107.83 on Tuesday. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The firm’s 50-day simple moving average is $118.79 and its 200 day simple moving average is $111.93. The stock has a market cap of $14.66 billion, a PE ratio of 56.16, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

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, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. As a group, sell-side analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the purchase, the chief executive officer now directly 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. Over the last quarter, insiders have sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Enphase Energy by 6.3% during the third quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 239 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Enphase Energy by 24.3% during the third quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock valued at $1,795,000 after acquiring an additional 2,921 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Enphase Energy by 68.0% during the third 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. Newbridge Financial Services Group Inc. lifted its holdings in shares of Enphase Energy by 108.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 325 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Enphase Energy by 155.0% during the third quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds 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.