iA Global Asset Management Inc. Trims Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

iA Global Asset Management Inc. trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 72.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,890 shares of the semiconductor company’s stock after selling 36,619 shares during the quarter. iA Global Asset Management Inc.’s holdings in Enphase Energy were worth $1,385,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $26,000. Manchester Capital Management LLC raised its holdings in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its position in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy during the first quarter valued at approximately $35,000. Finally, TFO Wealth Partners LLC increased its holdings in Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 336 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on ENPH shares. Canaccord Genuity Group dropped their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. William Blair started coverage on Enphase Energy in a research report on Thursday. They set a “market perform” rating on the stock. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research note on Monday, June 10th. Craig Hallum increased their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $128.76.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $121.04 on Friday. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve 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. The company has a market cap of $16.47 billion, a PE ratio of 63.04, a price-to-earnings-growth ratio of 5.59 and a beta of 1.71. The company’s 50 day moving average is $110.33 and its 200 day moving average is $116.02.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data 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 return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 1.24 EPS for the current year.

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.