JPMorgan Chase & Co. Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $124.00

Enphase Energy (NASDAQ:ENPH) had its price target dropped by JPMorgan Chase & Co. from $128.00 to $124.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.19% from the stock’s current price.

A number of other research analysts have also issued reports on ENPH. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research note on Monday, June 10th. Canaccord Genuity Group upped their target price on Enphase Energy from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Craig Hallum decreased their price target on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Mizuho cut their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $136.55.

Enphase Energy Trading Down 1.5 %

Enphase Energy stock opened at $119.01 on Thursday. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 61.98, a P/E/G ratio of 4.58 and a beta of 1.77. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. The firm has a 50-day moving average of $118.17 and a 200-day moving average of $118.06.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The firm had revenue of $263.34 million for the quarter, compared to the consensus estimate of $280.06 million. On average, equities analysts expect that Enphase Energy will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mandy Yang purchased 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the transaction, the chief financial officer now owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company’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 value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders sold a total of 349,526 shares of company stock valued at $43,721,225 in the last three months. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its holdings in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after acquiring an additional 29,013 shares during the period. Cambridge Trust Co. grew its stake in Enphase Energy by 3.0% during the first quarter. Cambridge Trust Co. now owns 6,925 shares of the semiconductor company’s stock worth $838,000 after purchasing an additional 200 shares during the period. Cetera Investment Advisers increased its holdings in Enphase Energy by 279.6% in the first quarter. Cetera Investment Advisers now owns 24,248 shares of the semiconductor company’s stock worth $2,934,000 after purchasing an additional 17,861 shares in the last quarter. Swedbank AB acquired a new position in Enphase Energy in the first quarter valued at approximately $424,130,000. Finally, National Wealth Management Group LLC bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $511,000. 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.