Enphase Energy (NASDAQ:ENPH) Price Target Cut to $128.00

Enphase Energy (NASDAQ:ENPH) had its price target trimmed by 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.

ENPH has been the subject of several other reports. TD Cowen increased their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday. Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday. Barclays increased their price target on shares of Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Morgan Stanley upped their price objective on shares of Enphase Energy from $97.00 to $106.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Finally, Canaccord Genuity Group cut their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

NASDAQ:ENPH opened at $111.93 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a 50-day moving average of $118.22 and a 200 day moving average of $111.90. The firm has a market cap of $15.23 billion, a PE ratio of 58.30, a price-to-earnings-growth 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.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, research analysts anticipate that Enphase Energy will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

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 value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated 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 sale, 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. Over the last quarter, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy in the first quarter valued at about $35,000. Parkside Financial Bank & Trust grew its position in shares of Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the period. Finally, Covestor Ltd grew its position in shares of Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.