Rhumbline Advisers Lowers Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Rhumbline Advisers cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 259,818 shares of the semiconductor company’s stock after selling 40,158 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Enphase Energy worth $17,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ENPH. Creative Planning increased its stake in shares of Enphase Energy by 49.7% during the third quarter. Creative Planning now owns 16,204 shares of the semiconductor company’s stock valued at $1,831,000 after buying an additional 5,379 shares during the period. Swedbank AB lifted its position 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 worth $391,442,000 after purchasing an additional 11,890 shares during the period. Blue Trust Inc. increased its holdings in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 228 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Enphase Energy during the 3rd quarter valued at $243,000. Finally, Signaturefd LLC increased its holdings in shares of Enphase Energy by 29.7% in the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 284 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 2.0 %

ENPH opened at $64.85 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a market cap of $8.59 billion, a PE ratio of 87.64 and a beta of 1.68. The company has a 50-day moving average price of $66.71 and a 200 day moving average price of $85.21.

Enphase Energy (NASDAQ:ENPH) last released 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%. Sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of recent research reports. Truist Financial reaffirmed a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a research report on Friday, January 31st. BNP Paribas downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Friday, November 8th. TD Cowen lowered their target price on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, Royal Bank of Canada reduced 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. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.42.

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.