JPMorgan Chase & Co. Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $169.00

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by JPMorgan Chase & Co. from $199.00 to $169.00 in a research note published on Friday, MarketBeat.com reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the company. TheStreet downgraded Enphase Energy from a b- rating to a c+ rating in a research report on Wednesday, August 16th. Deutsche Bank Aktiengesellschaft downgraded Enphase Energy from a buy rating to a hold rating and cut their target price for the stock from $200.00 to $165.00 in a research note on Friday, July 28th. Northland Securities decreased their price target on Enphase Energy from $300.00 to $235.00 in a research report on Wednesday, June 28th. Truist Financial lowered shares of Enphase Energy from a buy rating to a hold rating and cut their price objective for the company from $210.00 to $135.00 in a research report on Tuesday, September 12th. Finally, Craig Hallum dropped their price objective on Enphase Energy from $259.00 to $190.00 and set a buy rating for the company in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $234.17.

Enphase Energy Stock Down 2.6 %

Shares of NASDAQ ENPH opened at $117.16 on Friday. Enphase Energy has a one year low of $116.86 and a one year high of $339.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.44 and a quick ratio of 3.22. The business’s fifty day moving average price is $143.48 and its 200-day moving average price is $169.96. The stock has a market capitalization of $15.97 billion, a PE ratio of 29.51, a P/E/G ratio of 1.40 and a beta of 1.52.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. The business had revenue of $711.12 million for the quarter, compared to analysts’ expectations of $726.94 million. On average, equities research analysts anticipate that Enphase Energy will post 3.77 EPS for the current year.

Insider Activity at Enphase Energy

In other news, Director Thurman J. Rodgers purchased 32,600 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the acquisition, the director now directly owns 85,200 shares in the company, valued at $10,459,152. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Agur Provident & Training Funds Management Ltd. purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in Enphase Energy by 1,400.0% in the second quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new stake in Enphase Energy in the first quarter valued at $26,000. China Universal Asset Management Co. Ltd. increased its position in Enphase Energy by 278.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 114 shares during the period. Finally, KB Financial Partners LLC purchased a new stake in shares of Enphase Energy in the 1st quarter worth about $28,000. Institutional investors own 71.05% 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 services.