Erste Asset Management GmbH acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 325,957 shares of the semiconductor company's stock, valued at approximately $37,475,000. Erste Asset Management GmbH owned approximately 0.24% of Enphase Energy at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in Enphase Energy during the 3rd quarter valued at $2,138,000. Public Sector Pension Investment Board grew its holdings in shares of Enphase Energy by 11.5% during the third quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company's stock valued at $658,000 after buying an additional 600 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company's stock worth $265,609,000 after acquiring an additional 142,491 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Enphase Energy in the 3rd quarter worth about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Enphase Energy by 0.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 283,426 shares of the semiconductor company's stock valued at $32,033,000 after acquiring an additional 2,455 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Jefferies Financial Group lowered Enphase Energy from a "hold" rating to an "underperform" rating and decreased their price objective for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. Janney Montgomery Scott downgraded Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price target for the company. in a report on Wednesday, October 23rd. Citigroup dropped their price objective on Enphase Energy from $114.00 to $99.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Hsbc Global Res lowered shares of Enphase Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Susquehanna dropped their price target on shares of Enphase Energy from $104.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average target price of $101.13.
Check Out Our Latest Research Report on Enphase Energy
Enphase Energy Price Performance
Enphase Energy stock traded down $1.01 during midday trading on Friday, hitting $71.35. 2,790,854 shares of the company's stock were exchanged, compared to its average volume of 6,734,831. The stock has a 50-day moving average price of $86.46 and a two-hundred day moving average price of $104.68. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a market cap of $9.64 billion, a P/E ratio of 162.16, a PEG ratio of 21.09 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter last year, the company posted $0.84 earnings per share. The firm's revenue for the quarter was down 30.9% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.
About Enphase Energy
(
Free Report)
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.
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