Empowered Funds LLC Buys Shares of 2,193 Enphase Energy, Inc. (NASDAQ:ENPH)

Empowered Funds LLC bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,193 shares of the semiconductor company’s stock, valued at approximately $248,000.

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

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $76.00 price objective on shares of Enphase Energy in a research note on Tuesday, November 19th. The Goldman Sachs Group cut their price target on Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, TD Cowen reduced their price target on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four equities research 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.13.

Enphase Energy Stock Down 2.0 %

Shares of ENPH opened at $70.50 on Wednesday. The stock has a 50 day moving average price of $90.14 and a 200 day moving average price of $105.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 160.80, a PEG ratio of 20.32 and a beta of 1.77. Enphase Energy, Inc. has a one year low of $58.33 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its 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 for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Equities research analysts forecast that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

About Enphase Energy

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.