Truist Financial Trims Enphase Energy (NASDAQ:ENPH) Target Price to $110.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by analysts at Truist Financial from $130.00 to $110.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price would suggest a potential upside of 20.13% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Guggenheim lowered their price target on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a report on Friday, October 4th. Barclays reduced their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. BMO Capital Markets lowered their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday. Susquehanna cut shares of Enphase Energy from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $147.00 to $104.00 in a research note on Wednesday. Finally, Craig Hallum boosted their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.96.

Enphase Energy Stock Down 1.7 %

Enphase Energy stock opened at $91.57 on Wednesday. The business’s 50-day simple moving average is $111.57 and its two-hundred day simple moving average is $113.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The company has a market cap of $12.46 billion, a PE ratio of 47.69, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter in the prior year, the company earned $1.16 EPS. Enphase Energy’s quarterly revenue was down 57.3% on a year-over-year basis. Equities analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Manchester Capital Management LLC grew its holdings in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC boosted its holdings in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the period. nVerses Capital LLC acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC raised its position in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.