International Assets Investment Management LLC Takes $6.39 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

International Assets Investment Management LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,510 shares of the semiconductor company’s stock, valued at approximately $6,387,000.

A number of other hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 57.9% during 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 during the last quarter. Swedbank AB acquired a new position in shares of Enphase Energy during the 1st quarter valued at about $424,130,000. Electron Capital Partners LLC increased its holdings in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after acquiring an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Enphase Energy by 17.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after acquiring an additional 123,856 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $83.04 on Friday. The business’s 50 day moving average price is $106.33 and its two-hundred day moving average price is $110.97. The company has a market cap of $11.22 billion, a PE ratio of 188.73, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly 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). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. On average, analysts predict that Enphase Energy, Inc. will post 1.18 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ENPH shares. Citigroup decreased their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Canaccord Genuity Group restated a “hold” rating and set a $95.00 target price (down previously from $140.00) on shares of Enphase Energy in a research note on Wednesday, October 23rd. Susquehanna decreased their target price on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group restated a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $111.26.

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.