JPMorgan Chase & Co. Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $128.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $141.00 to $128.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.59% from the company’s previous close.

ENPH has been the subject of several other research reports. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price for the company. in a research note on Wednesday. Oppenheimer lifted their price objective on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley raised their price objective on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Barclays upped their price objective on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Company upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $98.00 to $141.00 in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $139.97.

Enphase Energy Trading Down 5.7 %

ENPH traded down $6.45 during trading on Wednesday, hitting $107.03. 7,891,145 shares of the company’s stock were exchanged, compared to its average volume of 4,133,403. The stock has a 50 day moving average price of $119.28 and a 200 day moving average price of $111.97. The firm has a market cap of $14.56 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. As a group, analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

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. In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 over the last ninety days. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in the business. Donoghue Forlines LLC lifted its holdings in shares of Enphase Energy by 4.8% in the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90 shares in the last quarter. Fermata Advisors LLC grew its position in shares of Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its stake in shares of Enphase Energy by 0.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after purchasing an additional 107 shares during the last quarter. VitalStone Financial LLC increased its holdings in shares of Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. lifted its position in Enphase Energy by 5.5% during the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds 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.