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

Enphase Energy (NASDAQ:ENPH) had its price target reduced by JPMorgan Chase & Co. from $141.00 to $128.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada assumed coverage on Enphase Energy in a research note on Wednesday, February 14th. They issued an outperform rating and a $140.00 target price on the stock. BMO Capital Markets boosted their target price on Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Barclays raised their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Piper Sandler reduced their price objective on shares of Enphase Energy from $120.00 to $117.00 and set a neutral rating on the stock in a research report on Friday, January 12th. Finally, Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of ENPH stock opened at $111.93 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. The business has a 50-day moving average of $117.82 and a 200 day moving average of $111.85. The stock has a market capitalization of $15.23 billion, a PE ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, sell-side analysts anticipate that Enphase Energy will post 1.96 earnings per share for the current year.

Insider Transactions at Enphase Energy

In related news, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,285 shares of company stock worth $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENPH. Vanguard Group Inc. grew its stake in shares of Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after purchasing an additional 192,854 shares during the period. Baillie Gifford & Co. boosted its holdings in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after buying an additional 4,078,723 shares during the period. Northern Trust Corp increased its stake in Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares in the last quarter. Norges Bank purchased a new stake in shares of Enphase Energy during the fourth quarter worth about $149,425,000. Finally, Schroder Investment Management Group grew its holdings in Enphase Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares in the last quarter. 72.12% of the stock is 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.