Enphase Energy, Inc. $ENPH Shares Sold by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG reduced its Enphase Energy stake by 3.9%, selling 80,604 shares and retaining 1.98 million shares valued at about $65.4 million. Institutional investors collectively own 72.12% of the company.
• Analyst sentiment remains cautious: Enphase has an average “Hold” rating from 23 analysts, with a consensus price target of $43.11 after several firms lowered their targets.
• Enphase shares opened at $31.60, well below their 12-month high of $73.74. Recent quarterly earnings slightly missed expectations, while revenue fell 19.6% year over year to $291.85 million.

Robeco Schweiz AG cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 3.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,981,141 shares of the semiconductor company's stock after selling 80,604 shares during the period. Enphase Energy makes up about 1.2% of Robeco Schweiz AG's portfolio, making the stock its 25th largest holding. Robeco Schweiz AG owned 1.50% of Enphase Energy worth $65,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. James Investment Research Inc. purchased a new stake in shares of Enphase Energy in the third quarter valued at approximately $964,000. Inspire Investing LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth approximately $633,000. Annex Advisory Services LLC purchased a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $495,000. NFSG Corp purchased a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $66,000. Finally, Mirador Capital Partners LP purchased a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $220,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 1,500 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the transaction, the director directly owned 10,422 shares of the company's stock, valued at approximately $420,631.92. This represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Enphase Energy from $70.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. BMO Capital Markets reduced their price objective on shares of Enphase Energy from $37.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday. Mizuho decreased their price objective on shares of Enphase Energy from $54.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Susquehanna decreased their price objective on shares of Enphase Energy from $37.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $55.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, September 21st. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $43.11.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $31.60 on Friday. The stock has a 50 day moving average of $34.70 and a two-hundred day moving average of $41.19. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The firm has a market cap of $4.18 billion, a P/E ratio of 31.60 and a beta of 1.64. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $291.85 million during the quarter, compared to analysts' expectations of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business's revenue was down 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. On average, analysts expect that Enphase Energy, Inc. will post 0.66 earnings per share for the current fiscal year.

Enphase Energy Profile

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.

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