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

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

Several other research firms also recently issued reports on ENPH. DZ Bank started coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They set a hold rating and a $116.00 price target for the company. TD Cowen increased their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday. Wells Fargo & Company upgraded shares of Enphase Energy from an equal weight rating to an overweight rating and increased their price objective for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Canaccord Genuity Group began coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a buy rating and a $142.00 price target for the company. Finally, KeyCorp restated 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, thirteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $137.41.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $111.93 on Wednesday. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47. 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 firm has a 50 day simple moving average of $118.22 and a 200 day simple moving average of $111.90. Enphase Energy has a one year low of $73.49 and a one year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million during 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%. Research analysts predict that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction 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 $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares of the company’s stock, 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 valued at $6,148,228. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in shares of Enphase Energy in the fourth quarter worth about $206,000. Legato Capital Management LLC purchased a new position in Enphase Energy during the fourth quarter valued at approximately $1,542,000. Assenagon Asset Management S.A. grew its stake in Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after acquiring an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Enphase Energy during the fourth quarter valued at approximately $566,000. Finally, Glenmede Trust Co. NA grew its stake in Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after acquiring an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors 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.