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

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $141.00 to $128.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 19.59% from the stock’s current price.

A number of other research firms have also issued reports on ENPH. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th. KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Susquehanna reaffirmed a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Friday, April 5th. Piper Sandler dropped their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. Finally, Roth Mkm reissued a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $139.97.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $6.45 during trading on Wednesday, hitting $107.03. 7,891,145 shares of the stock traded hands, compared to its average volume of 4,133,403. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average is $119.28 and its 200-day moving average is $111.97. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity

In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the purchase, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of ENPH. Donoghue Forlines LLC lifted its stake in Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90 shares during the last quarter. Fermata Advisors LLC increased its stake in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its stake in Enphase Energy by 0.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after buying an additional 107 shares in the last quarter. VitalStone Financial LLC boosted its holdings in Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in Enphase Energy by 5.5% in the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 131 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.