MQS Management LLC Reduces Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

MQS Management LLC decreased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 33.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,944 shares of the semiconductor company’s stock after selling 964 shares during the quarter. MQS Management LLC’s holdings in Enphase Energy were worth $220,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 0.9% during the third 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 acquired a new stake in shares of Enphase Energy during the first quarter worth about $424,130,000. Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% during 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 during the period. Thrivent Financial for Lutherans boosted its stake in shares of Enphase Energy by 17.6% during the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after buying an additional 123,856 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Enphase Energy by 71.0% during the third quarter. Handelsbanken Fonder AB now owns 714,364 shares of the semiconductor company’s stock worth $80,737,000 after buying an additional 296,498 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 6.4 %

Shares of Enphase Energy stock opened at $59.52 on Friday. 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 $59.12 and a 1 year high of $141.63. The company has a market capitalization of $8.04 billion, a P/E ratio of 135.27, a P/E/G ratio of 6.80 and a beta of 1.77. The business has a 50 day moving average price of $95.27 and a 200 day moving average price of $107.76.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets decreased their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. HSBC downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $154.00 to $81.00 in a research report on Friday, November 8th. Piper Sandler reduced their price objective on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup reduced their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.76.

Enphase Energy 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.