JPMorgan Chase & Co. started coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research report released on Monday, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $32.00 price target on the semiconductor company’s stock.

A number of other analysts have also issued reports on ENPH. Roth Capital boosted their target price on shares of Enphase Energy from $17.00 to $23.00 and gave the company a buy rating in a research note on Monday, July 29th. Oppenheimer boosted their target price on shares of Enphase Energy from $13.00 to $26.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Zacks Investment Research raised shares of Enphase Energy from a hold rating to a strong-buy rating and set a $23.00 target price for the company in a research note on Monday, July 8th. Northland Securities set a $40.00 target price on shares of Enphase Energy and gave the company a buy rating in a research note on Friday, September 13th. Finally, Deutsche Bank raised shares of Enphase Energy from a hold rating to a buy rating and boosted their target price for the company from $100.00 to $120.00 in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $33.68.

Shares of ENPH opened at $25.20 on Monday. The firm has a market capitalization of $2.69 billion, a P/E ratio of -210.00 and a beta of 0.88. Enphase Energy has a 12-month low of $4.05 and a 12-month high of $35.42. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $29.13 and a 200-day moving average price of $17.78.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. The firm had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The business’s revenue was up 76.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Analysts predict that Enphase Energy will post 0.54 earnings per share for the current year.

In related news, Director Richard Mora sold 60,000 shares of Enphase Energy stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $31.03, for a total value of $1,861,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeff Mcneil sold 7,500 shares of Enphase Energy stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $25.08, for a total value of $188,100.00. Following the completion of the sale, the chief operating officer now owns 318,038 shares of the company’s stock, valued at $7,976,393.04. The disclosure for this sale can be found here. Insiders sold 107,500 shares of company stock valued at $3,174,900 over the last 90 days. 12.46% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its holdings in shares of Enphase Energy by 106.9% in the second quarter. Alps Advisors Inc. now owns 148,820 shares of the semiconductor company’s stock valued at $2,713,000 after acquiring an additional 76,899 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Enphase Energy by 30.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after acquiring an additional 1,053,833 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Enphase Energy by 116.8% in the second quarter. LPL Financial LLC now owns 85,497 shares of the semiconductor company’s stock valued at $1,559,000 after acquiring an additional 46,057 shares in the last quarter. Atika Capital Management LLC bought a new position in Enphase Energy in the second quarter worth about $5,468,000. Finally, Commonwealth Equity Services LLC raised its holdings in Enphase Energy by 31.2% in the second quarter. Commonwealth Equity Services LLC now owns 32,354 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 7,689 shares in the last quarter. Hedge funds and other institutional investors own 43.36% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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