Truist Financial Corp Sells 165 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Truist Financial Corp lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,614 shares of the semiconductor company’s stock after selling 165 shares during the quarter. Truist Financial Corp’s holdings in Enphase Energy were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in shares of Enphase Energy during the second quarter valued at about $2,780,000. Kimelman & Baird LLC bought a new stake in shares of Enphase Energy during the 2nd quarter valued at about $2,435,000. B. Riley Wealth Advisors Inc. lifted its holdings in Enphase Energy by 16.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 4,620 shares of the semiconductor company’s stock worth $461,000 after buying an additional 646 shares during the period. Doheny Asset Management CA bought a new position in shares of Enphase Energy in the 2nd quarter worth approximately $8,095,000. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Enphase Energy by 12.2% during the second quarter. Duff & Phelps Investment Management Co. now owns 15,949 shares of the semiconductor company’s stock valued at $1,590,000 after purchasing an additional 1,737 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ENPH shares. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Canaccord Genuity Group decreased their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Barclays dropped their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Susquehanna upped their price target on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Finally, Piper Sandler lifted their price objective on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $125.74.

Enphase Energy Stock Down 9.3 %

Shares of ENPH stock opened at $92.04 on Wednesday. The company has a 50 day simple moving average of $112.12 and a two-hundred day simple moving average of $113.34. The stock has a market cap of $12.52 billion, a P/E ratio of 47.94, a P/E/G ratio of 5.57 and a beta of 1.72. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same period in the prior year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, research analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Enphase Energy 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.