Empowered Funds LLC Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Empowered Funds LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,193 shares of the semiconductor company’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB bought a new position in Enphase Energy during the first quarter valued at approximately $424,130,000. Baillie Gifford & Co. boosted its position 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. Electron Capital Partners LLC boosted its position 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. Anomaly Capital Management LP purchased a new position in shares of Enphase Energy in the second quarter valued at $51,582,000. Finally, Robeco Schweiz AG bought a new stake in Enphase Energy in the second quarter worth $31,249,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $70.50 on Wednesday. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63. The stock’s fifty day moving average price is $90.14 and its 200-day moving average price is $105.77. The firm has a market cap of $9.53 billion, a P/E ratio of 160.80, a P/E/G ratio of 20.32 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, equities research analysts expect that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

ENPH has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Barclays dropped their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $154.00 to $81.00 in a research note on Friday, November 8th. Citigroup dropped their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Susquehanna cut their target price on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $101.13.

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.