Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 19.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,670 shares of the semiconductor company’s stock after selling 3,693 shares during the period. Inspire Investing LLC’s holdings in Enphase Energy were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Evexia Wealth LLC increased its holdings in shares of Enphase Energy by 30.9% in the 3rd quarter. Evexia Wealth LLC now owns 3,014 shares of the semiconductor company’s stock worth $321,000 after acquiring an additional 711 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Enphase Energy by 500.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 1,000 shares during the period. UMB Bank n.a. raised its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. Leibman Financial Services Inc. boosted its position in shares of Enphase Energy by 1.7% during the third quarter. Leibman Financial Services Inc. now owns 18,395 shares of the semiconductor company’s stock worth $2,079,000 after buying an additional 315 shares during the period. Finally, Axiom Advisory LLC bought a new position in Enphase Energy in the 3rd quarter worth approximately $3,415,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Trading Up 1.8 %

NASDAQ ENPH opened at $100.97 on Monday. The firm’s 50 day moving average price is $112.35 and its two-hundred day moving average price is $113.68. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 52.59, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

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). The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s quarterly revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. Equities analysts anticipate that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Guggenheim dropped their price target on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a research report on Friday, October 4th. Barclays decreased their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, BMO Capital Markets lowered their price objective on shares of Enphase Energy from $115.00 to $114.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $126.99.

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.