State of Alaska Department of Revenue Has $1.78 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

State of Alaska Department of Revenue grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,729 shares of the semiconductor company’s stock after acquiring an additional 975 shares during the period. State of Alaska Department of Revenue’s holdings in Enphase Energy were worth $1,777,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new stake in Enphase Energy in the first quarter valued at approximately $424,130,000. Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares during the period. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after acquiring an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after acquiring an additional 123,856 shares during the period. Institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ENPH shares. Craig Hallum decreased their price objective on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Oppenheimer dropped their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, William Blair started coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.26.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $83.54 on Friday. The stock’s 50-day moving average is $104.89 and its 200-day moving average is $110.57. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a market cap of $11.29 billion, a P/E ratio of 189.86, a price-to-earnings-growth ratio of 9.26 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the business posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. Equities research analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

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.