Waycross Investment Management Co Reduces Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Waycross Investment Management Co lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,957 shares of the semiconductor company’s stock after selling 171 shares during the period. Waycross Investment Management Co’s holdings in Enphase Energy were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Manchester Capital Management LLC grew its holdings in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Enphase Energy during the 1st quarter worth approximately $35,000. TFO Wealth Partners LLC lifted its stake 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 worth $45,000 after acquiring an additional 336 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 461 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Trading Down 0.8 %

NASDAQ ENPH traded down $0.84 on Friday, reaching $105.95. 2,732,819 shares of the company were exchanged, compared to its average volume of 3,746,257. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The business’s fifty day moving average price is $113.09 and its 200 day moving average price is $114.03. The stock has a market capitalization of $14.42 billion, a P/E ratio of 55.18, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the prior year, the business earned $1.16 EPS. The firm’s quarterly revenue was down 57.3% on a year-over-year basis. Analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ENPH shares. Susquehanna lifted their target price on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Glj Research initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target for the company. Finally, William Blair began coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $127.17.

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.