Bank Pictet & Cie Europe AG Sells 726 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Bank Pictet & Cie Europe AG reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 25,680 shares of the semiconductor company’s stock after selling 726 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Enphase Energy were worth $2,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Manchester Capital Management LLC increased its stake in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares during the period. Chilton Capital Management LLC increased its position in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. increased its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new position in Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC lifted its position in shares of Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

ENPH stock opened at $92.23 on Wednesday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The business has a 50 day moving average of $110.47 and a 200-day moving average of $112.47. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a market cap of $12.55 billion, a PE ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was down 30.9% on a year-over-year basis. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

ENPH has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Oppenheimer decreased their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday. Roth Mkm reissued a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 target price for the company. Finally, BMO Capital Markets lowered their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.14.

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.