Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Partnership Wealth Management LLC

Partnership Wealth Management LLC lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 19.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,245 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Partnership Wealth Management LLC’s holdings in Enphase Energy were worth $141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after acquiring an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after buying an additional 85,284 shares during the last quarter. Doheny Asset Management CA acquired a new stake in Enphase Energy during the second quarter valued at approximately $8,095,000. Envestnet Asset Management Inc. lifted its holdings in Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after buying an additional 15,776 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Enphase Energy by 18.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 40,281 shares of the semiconductor company’s stock valued at $4,553,000 after acquiring an additional 6,143 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

ENPH stock opened at $104.15 on Wednesday. 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, Inc. has a one year low of $73.49 and a one year high of $141.63. The firm has a market capitalization of $14.17 billion, a PE ratio of 54.26, a P/E/G ratio of 6.19 and a beta of 1.72. The firm has a 50-day moving average of $112.84 and a two-hundred day moving average of $113.93.

Enphase Energy (NASDAQ:ENPH) last issued its 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). The business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. On average, analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research reports. Barclays decreased their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Roth Mkm restated a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a research report on Wednesday, July 24th. BMO Capital Markets dropped their target price on Enphase Energy from $115.00 to $114.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 2nd. Glj Research started coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target for the company. Finally, Guggenheim cut their price objective on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.42.

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.