Enphase Energy, Inc. (NASDAQ:ENPH) Stock Holdings Reduced by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,697 shares of the semiconductor company’s stock after selling 702 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Enphase Energy were worth $1,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENPH. Swedbank AB acquired a new stake in shares of Enphase Energy in the first quarter worth about $424,130,000. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 57.9% in 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 during the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy in the fourth quarter worth about $149,425,000. Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the first quarter worth about $59,128,000. Finally, Robeco Schweiz AG acquired a new stake in shares of Enphase Energy in the second quarter worth about $31,249,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. Guggenheim boosted their price target on Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research report on Wednesday, July 24th. William Blair started coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a research note on Monday, June 10th. BMO Capital Markets increased their target price on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their target price on Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $128.89.

Enphase Energy Trading Down 2.1 %

Shares of ENPH opened at $114.90 on Friday. The stock has a 50 day simple moving average of $112.99 and a 200-day simple moving average of $114.63. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $141.63. The stock has a market cap of $15.63 billion, a PE ratio of 59.84, a PEG ratio of 5.84 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, sell-side analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

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.