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

Enphase Energy (NASDAQ:ENPH - Free Report) had its price target lowered by Truist Financial from $145.00 to $130.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company's stock.

A number of other research analysts have also recently commented on ENPH. BMO Capital Markets raised their price target on Enphase Energy from $106.00 to $110.00 and gave the stock a market perform rating in a research report on Wednesday, February 7th. Royal Bank of Canada assumed coverage on Enphase Energy in a research report on Wednesday, February 14th. They issued an outperform rating and a $140.00 price target on the stock. Oppenheimer upgraded Enphase Energy from a market perform rating to an outperform rating and set a $133.00 target price on the stock in a research report on Wednesday, February 7th. Mizuho decreased their target price on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a research report on Friday. Finally, StockNews.com cut Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Two 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 stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $147.38.

Enphase Energy Stock Performance

Enphase Energy stock traded up $2.97 during mid-day trading on Tuesday, hitting $113.48. 6,364,342 shares of the company's stock traded hands, compared to its average volume of 4,087,372. The firm has a 50 day simple moving average of $119.28 and a two-hundred day simple moving average of $111.97. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 3.07 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. On average, research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Mora sold 24,285 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were 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 owns 3,126 shares of the company's stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Baillie Gifford & Co. boosted its stake in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company's stock valued at $539,102,000 after buying an additional 4,078,723 shares during the last quarter. Norges Bank purchased a new position in Enphase Energy during the 4th quarter worth $149,425,000. Nordea Investment Management AB increased its holdings in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company's stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Westfield Capital Management Co. LP bought a new stake in Enphase Energy during the 4th quarter valued at $41,068,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company's stock worth $34,711,000 after purchasing an additional 255,175 shares in the last quarter. Hedge funds and other 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.