Vontobel Holding Ltd. Cuts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Vontobel Holding Ltd. lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,795 shares of the semiconductor company’s stock after selling 521 shares during the quarter. Vontobel Holding Ltd.’s holdings in Enphase Energy were worth $6,758,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new stake in Enphase Energy during the first quarter valued at about $424,130,000. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its position in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP purchased a new stake in Enphase Energy in the second quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board bought a new position in Enphase Energy during the first quarter valued at approximately $59,128,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Trading Down 1.7 %

NASDAQ:ENPH opened at $91.57 on Friday. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company’s 50-day simple moving average is $111.57 and its 200 day simple moving average is $113.05. The firm has a market capitalization of $12.46 billion, a P/E ratio of 47.69, a PEG ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter in the previous year, the company earned $1.16 EPS. The business’s quarterly revenue was down 57.3% on a year-over-year basis. As a group, analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Piper Sandler lowered their price target on shares of Enphase Energy from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday. Canaccord Genuity Group reduced their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Barclays lowered their target price on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.96.

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.