Skandinaviska Enskilda Banken AB publ Sells 5,246 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 79,570 shares of the semiconductor company’s stock after selling 5,246 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Enphase Energy were worth $7,934,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Benjamin Edwards Inc. raised its holdings in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after buying an additional 93 shares during the last quarter. Fermata Advisors LLC increased its position in shares of Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after acquiring an additional 100 shares in the last quarter. Hollencrest Capital Management raised its holdings in Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 100 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Enphase Energy by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Barclays lowered their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Roth Mkm reissued a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. Canaccord Genuity Group cut their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group cut their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $128.89.

Enphase Energy Stock Down 2.1 %

ENPH opened at $114.90 on Friday. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a 50-day simple moving average of $112.99 and a two-hundred day simple moving average of $114.56. The company has a market capitalization of $15.63 billion, a PE ratio of 59.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue was down 57.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal 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.