Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 114,307 shares of the semiconductor company’s stock after selling 6,039 shares during the period. New York State Teachers Retirement System owned 0.08% of Enphase Energy worth $12,919,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the period. Swedbank AB purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $424,130,000. Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after buying an additional 1,078,154 shares during the period. Nordea Investment Management AB grew its stake in shares of Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after buying an additional 90,558 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Enphase Energy by 17.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after buying an additional 123,856 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Susquehanna decreased their price target on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $111.26.

Enphase Energy Price Performance

ENPH opened at $83.54 on Friday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 189.86, a price-to-earnings-growth ratio of 9.26 and a beta of 1.72. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company’s 50-day moving average price is $104.89 and its 200 day moving average price is $110.57. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

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.