Enphase Energy (NASDAQ:ENPH – Get Free Report) had its price target dropped by equities research analysts at Citigroup from $170.00 to $167.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective points to a potential upside of 44.09% from the stock’s current price.
ENPH has been the topic of a number of other research reports. Northland Securities dropped their target price on Enphase Energy from $300.00 to $235.00 in a research report on Wednesday, June 28th. Truist Financial reissued a “hold” rating and issued a $135.00 target price on shares of Enphase Energy in a research report on Wednesday, October 4th. Piper Sandler dropped their target price on Enphase Energy from $180.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, October 13th. Wells Fargo & Company lowered Enphase Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $230.00 to $171.00 in a research report on Friday, July 28th. Finally, The Goldman Sachs Group lowered their price target on Enphase Energy from $250.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.10.
Check Out Our Latest Research Report on Enphase Energy
Enphase Energy Trading Down 6.4 %
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.21. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. The company had revenue of $711.12 million for the quarter, compared to analyst estimates of $726.94 million. Sell-side analysts anticipate that Enphase Energy will post 3.71 earnings per share for the current fiscal year.
Insider Buying and Selling at Enphase Energy
In related news, Director Thurman J. Rodgers acquired 32,600 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $122.76 per share, with a total value of $4,001,976.00. Following the acquisition, the director now directly owns 85,200 shares of the company’s stock, valued at $10,459,152. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.
Hedge Funds Weigh In On Enphase Energy
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Agur Provident & Training Funds Management Ltd. acquired a new position in shares of Enphase Energy during the 1st quarter worth $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Enphase Energy by 1,400.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after buying an additional 140 shares in the last quarter. GPS Wealth Strategies Group LLC acquired a new position in shares of Enphase Energy during the 1st quarter worth $26,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Enphase Energy by 278.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock worth $26,000 after buying an additional 114 shares in the last quarter. Finally, KB Financial Partners LLC acquired a new position in shares of Enphase Energy during the 1st quarter worth $28,000. 71.05% of the stock is owned by institutional investors and hedge funds.
Enphase Energy Company Profile
Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.
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