Enphase Energy, Inc. (NASDAQ:ENPH) Stock Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,590 shares of the semiconductor company’s stock after selling 2,957 shares during the period. Fifth Third Bancorp’s holdings in Enphase Energy were worth $178,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ENPH. Public Sector Pension Investment Board lifted its position in shares of Enphase Energy by 68.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,221 shares of the semiconductor company’s stock worth $521,000 after buying an additional 2,129 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Enphase Energy by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 107,512 shares of the semiconductor company’s stock worth $10,725,000 after acquiring an additional 6,003 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Enphase Energy by 16.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 4,620 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 646 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Enphase Energy by 58.6% during the second quarter. Clearbridge Investments LLC now owns 165,529 shares of the semiconductor company’s stock valued at $16,505,000 after purchasing an additional 61,178 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $1,878,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $62.28 on Friday. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.41 billion, a PE ratio of 141.55, a price-to-earnings-growth ratio of 7.94 and a beta of 1.68. The business has a fifty day simple moving average of $69.27 and a 200-day simple moving average of $90.03.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price objective on Enphase Energy from $101.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Citigroup increased their price objective on shares of Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price for the company in a research note on Friday. Royal Bank of Canada dropped their price target on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Friday, November 22nd. Finally, Susquehanna reduced their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.06.

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.