Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 38.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,727 shares of the semiconductor company’s stock after selling 5,979 shares during the period. Pacer Advisors Inc.’s holdings in Enphase Energy were worth $970,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ENPH. Benjamin Edwards Inc. boosted its stake in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Fermata Advisors LLC boosted its holdings in shares of Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after buying an additional 100 shares during the period. Hollencrest Capital Management increased its position in shares of Enphase Energy by 3.3% in the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Enphase Energy by 0.9% during the second 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 during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after acquiring an additional 106 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Susquehanna increased their price objective on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. William Blair began coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Piper Sandler increased their price target on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday, June 10th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $115.00 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a market capitalization of $15.65 billion, a P/E ratio of 59.90, a P/E/G ratio of 6.19 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 $113.43 and its two-hundred day moving average price is $114.19.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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 for 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 business’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. On average, equities 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.