Independent Advisor Alliance Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Independent Advisor Alliance decreased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,377 shares of the semiconductor company’s stock after selling 257 shares during the quarter. Independent Advisor Alliance’s holdings in Enphase Energy were worth $269,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after purchasing an additional 58,040 shares during the last quarter. Swedbank AB raised its holdings in Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after buying an additional 11,890 shares during the last quarter. Electron Capital Partners LLC lifted its stake in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after buying an additional 16,234 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after buying an additional 424,327 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Trading Up 2.6 %

ENPH stock opened at $72.36 on Friday. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 164.45, a PEG ratio of 21.26 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. The business has a 50 day simple moving average of $88.23 and a two-hundred day simple moving average of $105.27.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for 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%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. Research analysts anticipate that Enphase Energy, Inc. will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ENPH. Northland Securities decreased their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Bank of America decreased their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Citigroup reduced their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Craig Hallum decreased their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, HSBC downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $154.00 to $81.00 in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $101.13.

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.