Creekside Partners Takes $362,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Creekside Partners bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,627 shares of the semiconductor company’s stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its position in shares of Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the period. Fermata Advisors LLC increased its stake in shares of Enphase Energy by 1.4% during 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 increased its stake in shares of Enphase Energy by 3.3% during 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 boosted its position in shares of Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in Enphase Energy by 1.9% in the second 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 period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Down 2.6 %

ENPH opened at $108.26 on Thursday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. 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 stock has a market capitalization of $14.73 billion, a PE ratio of 56.39, a P/E/G ratio of 6.19 and a beta of 1.72. The firm’s fifty day moving average price is $113.75 and its 200 day moving average price is $114.16.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results 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 company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. As a group, research analysts expect that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. William Blair assumed coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Morgan Stanley lifted their target price on Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Craig Hallum upped their price target on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America reduced their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $128.86.

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.