Enphase Energy (NASDAQ:ENPH) PT Lowered to $128.00 at JPMorgan Chase & Co.

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

A number of other equities analysts also recently issued reports on ENPH. Piper Sandler dropped their price objective on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. StockNews.com downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective on the stock. in a report on Wednesday. Jefferies Financial Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $111.00 in a report on Wednesday. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $141.00.

Enphase Energy Stock Up 0.6 %

NASDAQ:ENPH opened at $107.83 on Wednesday. The firm has a 50-day simple moving average of $118.79 and a two-hundred day simple moving average of $111.93. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The firm has a market cap of $14.66 billion, a P/E ratio of 53.47, a P/E/G ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results 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 firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Analysts predict that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s 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 transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s 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 completion of 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 can be accessed through the SEC website. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Hedge funds have recently added to or reduced their stakes in the business. Legato Capital Management LLC purchased a new stake in Enphase Energy in the fourth quarter worth about $1,542,000. Assenagon Asset Management S.A. lifted its stake in Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after acquiring an additional 173,628 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Enphase Energy in the fourth quarter worth about $566,000. Glenmede Trust Co. NA lifted its stake in Enphase Energy by 92.7% in the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after acquiring an additional 1,521 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Enphase Energy by 8.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after buying an additional 10,729 shares during 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.