Enphase Energy (NASDAQ:ENPH) had its price objective decreased by equities research analysts at Truist Securities from $254.00 to $205.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Truist Securities' price target would indicate a potential upside of 59.16% from the stock's previous close.
Other analysts also recently issued reports about the stock. Susquehanna raised shares of Enphase Energy from a "neutral" rating to a "positive" rating and set a $200.00 target price for the company in a research report on Thursday, March 25th. Needham & Company LLC decreased their target price on shares of Enphase Energy from $240.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday. Piper Sandler decreased their target price on shares of Enphase Energy from $200.00 to $195.00 and set an "overweight" rating for the company in a research report on Wednesday, April 28th. Raymond James raised shares of Enphase Energy from an "underperform" rating to a "market perform" rating in a research report on Monday, March 15th. Finally, Craig Hallum decreased their target price on shares of Enphase Energy from $210.00 to $175.00 in a research report on Wednesday, April 28th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of "Buy" and a consensus price target of $175.55.
Enphase Energy stock traded up $0.97 during trading hours on Wednesday, hitting $128.80. The company had a trading volume of 59,456 shares, compared to its average volume of 3,864,044. The firm has a market capitalization of $17.48 billion, a P/E ratio of 99.87, a price-to-earnings-growth ratio of 3.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.31 and a quick ratio of 3.17. The firm's fifty day moving average is $154.07 and its 200-day moving average is $157.77. Enphase Energy has a fifty-two week low of $37.81 and a fifty-two week high of $229.04.
Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, April 27th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.34 by $0.22. The firm had revenue of $301.80 million for the quarter, compared to analyst estimates of $291.83 million. Enphase Energy had a net margin of 24.69% and a return on equity of 30.06%. The company's revenue for the quarter was up 46.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Analysts anticipate that Enphase Energy will post 0.95 earnings per share for the current year.
In other news, COO Jeff Mcneil sold 20,864 shares of the stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $177.22, for a total value of $3,697,518.08. Following the completion of the transaction, the chief operating officer now owns 213,272 shares in the company, valued at approximately $37,796,063.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mandy Yang sold 5,757 shares of the stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $204.43, for a total transaction of $1,176,903.51. Following the completion of the transaction, the chief accounting officer now owns 123,772 shares of the company's stock, valued at approximately $25,302,709.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,471 shares of company stock valued at $37,630,844. Corporate insiders own 7.10% of the company's stock.
Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Enphase Energy by 8.6% during the 4th quarter. IFP Advisors Inc now owns 693 shares of the semiconductor company's stock worth $123,000 after purchasing an additional 55 shares in the last quarter. JustInvest LLC grew its holdings in Enphase Energy by 2.0% during the 4th quarter. JustInvest LLC now owns 2,973 shares of the semiconductor company's stock worth $522,000 after acquiring an additional 59 shares during the last quarter. Boston Private Wealth LLC grew its holdings in Enphase Energy by 1.1% during the 4th quarter. Boston Private Wealth LLC now owns 5,497 shares of the semiconductor company's stock worth $965,000 after acquiring an additional 60 shares during the last quarter. Parallel Advisors LLC grew its holdings in Enphase Energy by 11.2% during the 1st quarter. Parallel Advisors LLC now owns 635 shares of the semiconductor company's stock worth $103,000 after acquiring an additional 64 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in Enphase Energy by 31.2% during the 1st quarter. Trust Co. of Vermont now owns 282 shares of the semiconductor company's stock worth $46,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.81% 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 services.
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