Symmetry Investments LP Lowers Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Symmetry Investments LP decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 12.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,400 shares of the semiconductor company’s stock after selling 1,100 shares during the period. Symmetry Investments LP’s holdings in Enphase Energy were worth $738,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ENPH. Transatlantique Private Wealth LLC bought a new position in shares of Enphase Energy in the second quarter worth approximately $345,000. Thrivent Financial for Lutherans lifted its position in Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after acquiring an additional 123,856 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Enphase Energy by 3.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 505,255 shares of the semiconductor company’s stock valued at $50,379,000 after purchasing an additional 16,515 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Enphase Energy by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,484 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 203 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $114.90 on Friday. The stock has a 50-day moving average price of $112.99 and a 200 day moving average price of $114.63. The stock has a market capitalization of $15.63 billion, a P/E ratio of 59.84, a P/E/G ratio of 5.84 and a beta of 1.72. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. 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 posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 earnings per share. Equities research analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENPH shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Glj Research initiated coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. Morgan Stanley lifted their price target on shares of Enphase Energy from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research report on Monday, June 10th. Finally, Canaccord Genuity Group cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $128.89.

Enphase Energy 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.