JPMorgan Chase & Co. Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $120.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by JPMorgan Chase & Co. from $130.00 to $120.00 in a research report report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other analysts have also weighed in on the stock. Raymond James lowered their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Wednesday. Oppenheimer cut their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday. Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price for the company. Finally, Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Price Performance

Shares of ENPH opened at $83.83 on Wednesday. The business has a 50-day moving average of $108.44 and a 200-day moving average of $111.79. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, equities research analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC lifted its position in shares of Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares in the last quarter. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new stake in shares of Enphase Energy during the third quarter valued at about $34,000. Finally, Quest Partners LLC increased its position in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the period. 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.