Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 69.5% in the third quarter, HoldingsChannel.com reports. The firm owned 19,812 shares of the semiconductor company’s stock after selling 45,242 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Enphase Energy were worth $2,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares during the period. Chilton Capital Management LLC lifted its holdings in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Finally, Blue Trust Inc. raised its holdings in shares of Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 228 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Wednesday. Craig Hallum reduced their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their price target on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Evercore ISI reduced their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Up 3.4 %

Enphase Energy stock opened at $83.83 on Friday. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63. The firm’s fifty day simple moving average is $108.44 and its 200-day simple moving average is $111.72. The company has a market capitalization of $11.35 billion, a P/E ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72.

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 the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. Enphase Energy’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Sell-side analysts forecast that Enphase Energy, Inc. will post 1.18 earnings per share for the current fiscal year.

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.