Victory Capital Management Inc. Raises Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Victory Capital Management Inc. increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,032 shares of the semiconductor company’s stock after buying an additional 228 shares during the quarter. Victory Capital Management Inc.’s holdings in Enphase Energy were worth $5,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Enphase Energy by 784.8% in the third 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 purchased a new position in Enphase Energy in the third quarter valued at about $34,000. Quest Partners LLC raised its position in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the period. Blue Trust Inc. raised its position in Enphase Energy by 109.1% in the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 228 shares during the period. Finally, Mather Group LLC. raised its position in Enphase Energy by 1,727.6% in the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 501 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENPH. Oppenheimer dropped their target price on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Roth Mkm dropped their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Barclays dropped their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Craig Hallum dropped their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their target price on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.13.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $66.29 on Friday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a 50 day simple moving average of $91.80 and a 200-day simple moving average of $106.49. The company has a market cap of $8.96 billion, a PE ratio of 150.66, a P/E/G ratio of 18.81 and a beta of 1.77. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the firm earned $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.91 EPS for the current year.

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.