Principal Financial Group Inc. Sells 96,299 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Principal Financial Group Inc. decreased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 38.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,817 shares of the semiconductor company’s stock after selling 96,299 shares during the period. Principal Financial Group Inc. owned about 0.12% of Enphase Energy worth $10,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in Enphase Energy in the 3rd quarter valued at approximately $1,273,000. Charles Schwab Investment Management Inc. raised its stake in shares of Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after acquiring an additional 16,234 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Enphase Energy during the third quarter valued at $37,475,000. Mizuho Securities USA LLC raised its stake in shares of Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Enphase Energy by 15.9% during the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

ENPH has been the subject of several analyst reports. BMO Capital Markets dropped their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Hsbc Global Res downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Citigroup raised their price target on shares of Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Stock Performance

Enphase Energy stock opened at $57.33 on Friday. The firm’s 50 day simple moving average is $66.23 and its 200 day simple moving average is $84.06. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $7.59 billion, a PE ratio of 77.47 and a beta of 1.68. Enphase Energy, Inc. has a 1-year low of $56.83 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

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.