Enphase Energy (NASDAQ:ENPH) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Enphase Energy (NASDAQ:ENPH) had its price target cut by JPMorgan Chase & Co. from $40.00 to $35.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research firms have also issued reports on ENPH. Jefferies Financial Group cut their price target on shares of Enphase Energy from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Evercore reiterated a “positive” rating and issued a $41.00 price objective on shares of Enphase Energy in a report on Monday, August 17th. Susquehanna lowered their target price on Enphase Energy from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. BMO Capital Markets dropped their target price on Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a report on Wednesday, July 29th. Finally, Mizuho reduced their price target on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $43.11.

Enphase Energy Stock Down 0.7%

Shares of NASDAQ ENPH opened at $31.99 on Monday. The stock has a market capitalization of $4.23 billion, a P/E ratio of 31.99 and a beta of 1.64. Enphase Energy has a one year low of $25.77 and a one year high of $73.74. The firm’s 50 day simple moving average is $35.07 and its two-hundred day simple moving average is $41.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%. The business had revenue of $291.85 million during the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was down 19.6% compared to the same quarter last year. As a group, analysts expect that Enphase Energy will post 0.66 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the completion of the transaction, the director directly owned 11,922 shares of the company’s stock, valued at approximately $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of ENPH. Archer Investment Corp bought a new stake in shares of Enphase Energy in the 2nd quarter worth approximately $30,000. Ascentis Independent Advisors bought a new position in shares of Enphase Energy during the first quarter valued at approximately $33,000. Burnham & Co LLC bought a new position in shares of Enphase Energy during the second quarter valued at approximately $34,000. Continuum Advisory LLC bought a new position in shares of Enphase Energy during the second quarter valued at approximately $42,000. Finally, Allworth Financial LP purchased a new stake in Enphase Energy in the second quarter worth $46,000. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.