Enphase Energy (NASDAQ:ENPH) Given New $120.00 Price Target at JPMorgan Chase & Co.

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 47.97% from the stock’s current price.

Other research analysts have also issued research reports about the company. Craig Hallum lowered their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America boosted their target price on shares of Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target on the stock. William Blair assumed coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Citigroup lowered their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Stock Performance

Shares of ENPH opened at $81.10 on Wednesday. The company has a market capitalization of $11.03 billion, a PE ratio of 42.24, a PEG ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The company’s 50 day moving average price is $109.09 and its 200 day moving average price is $112.01. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63.

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

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB bought a new position in Enphase Energy during the 1st quarter valued at about $424,130,000. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its holdings in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP bought a new position in shares of Enphase Energy in the second quarter valued at approximately $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Enphase Energy in the 1st quarter worth approximately $59,128,000. Institutional investors and hedge funds own 72.12% 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.