Enphase Energy, Inc. (NASDAQ:ENPH) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 54.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,510 shares of the semiconductor company’s stock after acquiring an additional 15,776 shares during the period. Envestnet Asset Management Inc.’s holdings in Enphase Energy were worth $4,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fermata Advisors LLC raised its holdings in Enphase Energy by 1.4% in the 1st 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 during 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 valued at $374,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings 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 during the last quarter. Crossmark Global Holdings Inc. raised its holdings in 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 during the last quarter. Finally, VitalStone Financial LLC raised its holdings in Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 111 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $111.20 on Wednesday. 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 50-day moving average of $113.60 and a two-hundred day moving average of $114.13. The stock has a market cap of $15.13 billion, a P/E ratio of 57.92, a PEG ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted 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 firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s quarterly revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. On average, research analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENPH shares. 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 report on Wednesday, July 24th. Bank of America dropped their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Canaccord Genuity Group dropped 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. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Finally, Guggenheim upped their price objective on Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $128.89.

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.