CIBC Asset Management Inc Buys 1,462 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

CIBC Asset Management Inc increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,158 shares of the semiconductor company’s stock after purchasing an additional 1,462 shares during the quarter. CIBC Asset Management Inc’s holdings in Enphase Energy were worth $2,278,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC bought a new position in shares of Enphase Energy during the 3rd quarter valued at $227,000. Intellectus Partners LLC lifted its holdings in Enphase Energy by 19.6% in the third quarter. Intellectus Partners LLC now owns 12,927 shares of the semiconductor company’s stock valued at $1,461,000 after acquiring an additional 2,117 shares during the period. KBC Group NV boosted its position in Enphase Energy by 10.0% in the third quarter. KBC Group NV now owns 127,583 shares of the semiconductor company’s stock worth $14,420,000 after purchasing an additional 11,578 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Enphase Energy during the 3rd quarter valued at about $215,000. Finally, Credit Capital Investments LLC purchased a new stake in shares of Enphase Energy during the 3rd quarter valued at about $384,000. Institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Roth Mkm cut their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Barclays reduced their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price on the stock. in a report on Wednesday, October 23rd. Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Finally, William Blair started coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.09.

Enphase Energy Price Performance

ENPH stock opened at $61.36 on Wednesday. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The firm has a market capitalization of $8.29 billion, a P/E ratio of 139.45, a price-to-earnings-growth ratio of 18.32 and a beta of 1.77. The company has a fifty day simple moving average of $93.59 and a two-hundred day simple moving average of $107.09. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 during 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. The firm’s revenue was down 30.9% on a year-over-year basis. Analysts anticipate that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

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.