Principal Financial Group Inc. Has $28.61 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Principal Financial Group Inc. trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 25.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,116 shares of the semiconductor company’s stock after selling 84,390 shares during the period. Principal Financial Group Inc.’s holdings in Enphase Energy were worth $28,607,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ENPH. Harbor Capital Advisors Inc. acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $1,273,000. Swedbank AB increased its stake in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after buying an additional 31,008 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Enphase Energy during the 3rd quarter worth $6,387,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Roth Mkm dropped their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Northland Securities lowered their price target on shares of Enphase Energy from $150.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America cut their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Barclays cut their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average target price of $103.39.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $60.09 on Wednesday. The company has a market cap of $8.12 billion, a P/E ratio of 136.57, a PEG ratio of 7.51 and a beta of 1.77. The company has a fifty day simple moving average of $98.28 and a 200 day simple moving average of $108.79. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 12-month low of $59.37 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was down 30.9% on a year-over-year basis. Sell-side analysts predict that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

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.