National Pension Service Reduces Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

National Pension Service trimmed its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 1.5% during the third quarter, Holdings Channel.com reports. The fund owned 259,694 shares of the semiconductor company’s stock after selling 4,013 shares during the period. National Pension Service’s holdings in Enphase Energy were worth $29,351,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Enphase Energy in the first quarter worth $424,130,000. Baillie Gifford & Co. raised its stake in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Enphase Energy during the 2nd quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Enphase Energy during the first quarter worth about $59,128,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on ENPH shares. Raymond James decreased their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley decreased their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Craig Hallum dropped their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Bank of America decreased their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.73.

Enphase Energy Stock Down 4.3 %

Shares of NASDAQ:ENPH opened at $71.59 on Friday. The firm has a market cap of $9.67 billion, a PE ratio of 162.70, a price-to-earnings-growth ratio of 9.82 and a beta of 1.77. Enphase Energy, Inc. has a 12-month low of $71.38 and a 12-month high of $141.63. The company has a fifty day simple moving average of $101.56 and a 200 day simple moving average of $109.78. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

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