Oppenheimer & Co. Inc. Raises Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Oppenheimer & Co. Inc. grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.0% during the third quarter, Holdings Channel reports. The fund owned 8,783 shares of the semiconductor company’s stock after purchasing an additional 496 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enphase Energy were worth $993,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Quest Partners LLC increased its position in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares in the last quarter. Blue Trust Inc. raised its stake in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 228 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in Enphase Energy by 1,727.6% in the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 501 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $61.36 on Wednesday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 139.45, a P/E/G ratio of 18.32 and a beta of 1.77. The firm has a fifty day moving average price of $93.59 and a 200 day moving average price of $107.09. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last issued its 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). The firm 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 revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America reduced their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $154.00 to $81.00 in a report on Friday, November 8th. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.09.

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.