Enphase Energy (NASDAQ:ENPH) Given New $128.00 Price Target at JPMorgan Chase & Co.

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

A number of other research analysts also recently issued reports on the stock. Morgan Stanley upped their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Truist Financial cut their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a research report on Tuesday. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They set a buy rating and a $142.00 target price on the stock. StockNews.com downgraded shares of Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada started coverage on shares of Enphase Energy in a research report on Wednesday, February 14th. They issued an outperform rating and a $140.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $141.00.

Enphase Energy Stock Down 5.6 %

Shares of NASDAQ ENPH opened at $107.17 on Wednesday. The firm’s 50-day simple moving average is $119.28 and its 200 day simple moving average is $111.97. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a price-to-earnings-growth ratio of 3.24 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. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, research analysts expect that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy 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 completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. CWM LLC lifted its holdings in shares of Enphase Energy by 6.3% during the third quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock worth $485,000 after buying an additional 239 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Enphase Energy by 24.3% during the third quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock worth $1,795,000 after buying an additional 2,921 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Enphase Energy by 108.3% during the third quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock worth $75,000 after buying an additional 325 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Enphase Energy by 155.0% during the third quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock worth $162,000 after buying an additional 820 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Enphase Energy during the third quarter worth $259,000. 72.12% of the stock is owned by 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.