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

Enphase Energy (NASDAQ:ENPH) had its price target cut by Truist Financial from $130.00 to $110.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on ENPH. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. BMO Capital Markets dropped their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Guggenheim reduced their price objective on Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a research report on Friday, October 4th. Canaccord Genuity Group lowered their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Glj Research started coverage on Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price on the stock. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $122.96.

Enphase Energy Stock Performance

Enphase Energy stock opened at $91.64 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 5.57 and a beta of 1.72. The stock’s 50 day simple moving average is $111.25 and its two-hundred day simple moving average is $112.87. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

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

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. grew its position in Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after buying an additional 93 shares during the period. Fermata Advisors LLC boosted its stake in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after acquiring an additional 100 shares during the last quarter. Hollencrest Capital Management grew its position in shares of Enphase Energy by 3.3% during the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 100 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors 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.