Seven Eight Capital LP Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Seven Eight Capital LP lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 26.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,996 shares of the semiconductor company’s stock after selling 3,975 shares during the period. Seven Eight Capital LP’s holdings in Enphase Energy were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy in the 1st quarter valued at $35,000. TFO Wealth Partners LLC grew its holdings in shares of Enphase Energy by 6,720.0% during the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 336 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in Enphase Energy by 50.9% in the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 144 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Down 2.1 %

Shares of NASDAQ ENPH opened at $114.90 on Friday. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a 50-day moving average of $112.99 and a 200 day moving average of $114.63. The stock 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.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on ENPH. Royal Bank of Canada cut their price target on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. HSBC raised Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Monday, June 10th. Finally, Craig Hallum lifted their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus price target of $128.89.

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.