KLP Kapitalforvaltning AS Decreases Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Enphase Energy by 70.7% during the first quarter, now holding 26,100 shares valued at approximately $1.62 million.
• Enphase Energy reported an EPS of $0.69 for the last quarter, exceeding analyst estimates of $0.62, with revenues up 19.7% year-over-year.
• Analysts have varied opinions on Enphase Energy, with a consensus target price of $55.86 and ratings ranging from sell to buy, highlighting uncertainty in the stock's future performance.

KLP Kapitalforvaltning AS lowered its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,100 shares of the semiconductor company's stock after selling 63,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Enphase Energy were worth $1,620,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ENPH. Fox Run Management L.L.C. bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $233,000. Vanguard Group Inc. boosted its stake in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after acquiring an additional 44,782 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Enphase Energy in the fourth quarter valued at approximately $270,000. Korea Investment CORP boosted its stake in Enphase Energy by 45.6% in the fourth quarter. Korea Investment CORP now owns 91,758 shares of the semiconductor company's stock valued at $6,302,000 after acquiring an additional 28,742 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Enphase Energy by 10.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,132 shares of the semiconductor company's stock valued at $15,594,000 after acquiring an additional 19,743 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

Enphase Energy Trading Down 2.3%

Shares of ENPH traded down $0.80 during trading on Tuesday, reaching $34.15. 4,395,942 shares of the company traded hands, compared to its average volume of 6,417,552. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.47 billion, a PE ratio of 26.71 and a beta of 1.67. The stock has a 50-day simple moving average of $40.68 and a 200-day simple moving average of $51.73. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The firm had revenue of $363.15 million during the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The business's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ENPH shares. Mizuho lowered their target price on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research note on Monday, July 14th. Bank of America dropped their target price on shares of Enphase Energy from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 23rd. Barclays boosted their target price on shares of Enphase Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. KeyCorp reissued an "underweight" rating and set a $31.00 target price on shares of Enphase Energy in a research report on Tuesday, June 17th. Finally, Morgan Stanley downgraded shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price on the stock. in a research report on Wednesday, April 23rd. Thirteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Hold" and an average target price of $55.86.

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.