Robeco Schweiz AG lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,981,141 shares of the semiconductor company’s stock after selling 80,604 shares during the quarter. Enphase Energy accounts for 1.2% of Robeco Schweiz AG’s investment portfolio, making the stock its 25th largest position. Robeco Schweiz AG’s holdings in Enphase Energy were worth $65,358,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its holdings in shares of Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after acquiring an additional 1,283,052 shares during the period. Jupiter Topco LLC acquired a new position in shares of Enphase Energy during the 2nd quarter valued at about $6,766,000. SIR Capital Management L.P. acquired a new position in shares of Enphase Energy during the 2nd quarter valued at about $10,858,000. Bank of New York Mellon Corp purchased a new stake in shares of Enphase Energy in the second quarter valued at about $43,921,000. Finally, Bank of America Corp DE purchased a new stake in shares of Enphase Energy in the second quarter valued at about $19,333,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.
Enphase Energy Stock Performance
Shares of Enphase Energy stock opened at $31.60 on Friday. The business has a 50-day moving average of $34.70 and a 200 day moving average of $41.19. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 31.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%. The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same quarter last year, the company earned $0.69 earnings per share. Enphase Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.66 earnings per share for the current year.
Insider Buying and Selling at Enphase Energy
In other news, Director Richard Mora sold 1,500 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Enphase Energy from $27.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, October 14th. BMO Capital Markets reduced their target price on shares of Enphase Energy from $37.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. TD Cowen dropped their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Finally, Susquehanna cut their price target on shares of Enphase Energy from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.11.
Check Out Our Latest Research Report on Enphase Energy
Enphase Energy Company Profile
Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.
The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.
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