Rakuten Securities Inc. Sells 341 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Rakuten Securities Inc. lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 34.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 663 shares of the semiconductor company’s stock after selling 341 shares during the period. Rakuten Securities Inc.’s holdings in Enphase Energy were worth $75,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after acquiring an additional 58,040 shares during the last quarter. Swedbank AB bought a new stake in shares of Enphase Energy during the 1st quarter valued at about $424,130,000. Electron Capital Partners LLC grew its stake in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the period. Thrivent Financial for Lutherans increased its holdings in Enphase Energy by 17.6% in the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after purchasing an additional 123,856 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Enphase Energy by 71.0% in the third quarter. Handelsbanken Fonder AB now owns 714,364 shares of the semiconductor company’s stock valued at $80,737,000 after buying an additional 296,498 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Down 5.6 %

NASDAQ ENPH opened at $60.09 on Wednesday. The stock’s 50-day simple moving average is $98.28 and its two-hundred day simple moving average is $108.79. Enphase Energy, Inc. has a twelve month low of $59.37 and a twelve month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 136.57, a PEG ratio of 7.51 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last released its 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). 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 during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. Research analysts forecast that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ENPH shares. Roth Mkm lowered their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group cut shares of Enphase Energy from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Northland Securities cut their price target on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup decreased their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Four equities research 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. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and an average price target of $103.39.

About Enphase Energy

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.