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

Enphase Energy (NASDAQ:ENPH) had its target price lowered by research analysts at JPMorgan Chase & Co. from $141.00 to $128.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.71% from the stock’s previous close.

A number of other equities analysts also recently commented on ENPH. Barclays increased their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Jefferies Financial Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $111.00 in a research note on Wednesday. Piper Sandler cut their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. Oppenheimer raised their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Cowen raised their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $141.00.

Enphase Energy Price Performance

ENPH stock opened at $107.83 on Wednesday. The stock has a 50-day moving average price of $118.79 and a two-hundred day moving average price of $111.93. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The stock has a market cap of $14.66 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Equities analysts forecast that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last three months. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares during the period. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares during the period. Northern Trust Corp lifted its holdings in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the period. Norges Bank acquired a new position in Enphase Energy in the fourth quarter valued at $149,425,000. Finally, Schroder Investment Management Group lifted its holdings in Enphase Energy by 3.3% in the third 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 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.