Lombard Odier Asset Management Europe Ltd Reduces Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Lombard Odier Asset Management Europe Ltd lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 14.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,765 shares of the semiconductor company’s stock after selling 13,605 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.06% of Enphase Energy worth $7,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB purchased a new stake in Enphase Energy in the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Enphase Energy during the 1st quarter valued at about $59,128,000. Robeco Schweiz AG bought a new position in shares of Enphase Energy in the second quarter worth approximately $31,249,000. Finally, Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Performance

ENPH stock opened at $114.90 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a market cap of $15.63 billion, a P/E ratio of 59.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The stock’s fifty day moving average price is $112.99 and its 200-day moving average price is $114.48.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the previous year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ENPH shares. Piper Sandler upped their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Barclays reduced their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Bank of America dropped their target price on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Susquehanna increased their price target on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research report on Monday, July 15th. Finally, Guggenheim lifted their price target on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $128.89.

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.