Independent Advisor Alliance Sells 257 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Independent Advisor Alliance lowered its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,377 shares of the semiconductor company’s stock after selling 257 shares during the quarter. Independent Advisor Alliance’s holdings in Enphase Energy were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in Enphase Energy in the third quarter worth about $1,273,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after purchasing an additional 16,234 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after purchasing an additional 438,424 shares during the period. Impax Asset Management Group plc increased its position in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after purchasing an additional 31,008 shares during the last quarter. Finally, Swedbank AB raised its holdings in Enphase Energy by 0.3% during the 3rd 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 period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 2.6 %

NASDAQ ENPH opened at $72.36 on Friday. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a fifty day simple moving average of $88.23 and a two-hundred day simple moving average of $105.27. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a market cap of $9.78 billion, a P/E ratio of 164.45, a P/E/G ratio of 21.26 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. On average, analysts forecast that Enphase Energy, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on ENPH. Bank of America dropped their price objective on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Oppenheimer reduced their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI reduced their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Craig Hallum lowered their target price on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $101.13.

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.