Applied Finance Capital Management LLC Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Applied Finance Capital Management LLC lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 12.6% during the third quarter, Holdings Channel.com reports. The firm owned 3,397 shares of the semiconductor company’s stock after selling 488 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Enphase Energy were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENPH. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $1,273,000. Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares during the last quarter. Impax Asset Management Group plc grew its holdings 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 buying an additional 31,008 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $6,387,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ENPH shares. Bank of America cut their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a report on Thursday. William Blair started coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. The Goldman Sachs Group lowered their price objective on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lowered their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $93.00 to $61.00 in a research report on Thursday. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $104.03.

Enphase Energy Stock Performance

ENPH opened at $66.90 on Friday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 152.05, a PEG ratio of 9.82 and a beta of 1.77. The company has a fifty day moving average of $100.48 and a 200 day moving average of $109.48. Enphase Energy, Inc. has a fifty-two week low of $65.66 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal 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.