State of Alaska Department of Revenue Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

State of Alaska Department of Revenue trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,404 shares of the semiconductor company’s stock after selling 325 shares during the quarter. State of Alaska Department of Revenue’s holdings in Enphase Energy were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Enphase Energy by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after acquiring an additional 58,040 shares during the period. Swedbank AB boosted its stake in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares during the period. Geode Capital Management LLC boosted its stake in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after buying an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Enphase Energy by 6.5% in the 3rd 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 valued at $265,609,000 after buying an additional 142,491 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after buying an additional 1,258,778 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Evercore ISI decreased their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Oppenheimer lifted their price objective on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Citigroup lifted their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.42.

Enphase Energy Trading Up 2.4 %

Shares of ENPH stock opened at $62.59 on Friday. The business’s 50 day moving average is $67.76 and its two-hundred day moving average is $87.06. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a market capitalization of $8.46 billion, a P/E ratio of 84.58, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.88 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities analysts forecast that Enphase Energy, Inc. will post 2.12 EPS for the current year.

About Enphase Energy

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.