Saturna Capital Corp Decreases Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Saturna Capital Corp cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 39.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,910 shares of the semiconductor company’s stock after selling 1,920 shares during the period. Saturna Capital Corp’s holdings in Enphase Energy were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ENPH. UMB Bank n.a. increased its holdings in Enphase Energy by 784.8% in 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 stake in shares of Enphase Energy during the 3rd quarter valued at $34,000. Quest Partners LLC raised its holdings in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares in the last quarter. Blue Trust Inc. grew its position in 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 during the last quarter. Finally, Mather Group LLC. grew its position in Enphase Energy by 1,727.6% in the 2nd quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 501 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENPH. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Friday, November 8th. The Goldman Sachs Group decreased their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. TD Cowen decreased their target price on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Roth Mkm decreased their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Susquehanna decreased their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.39.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $60.75 on Wednesday. The firm has a 50 day moving average of $98.28 and a 200-day moving average of $108.79. The stock has a market capitalization of $8.21 billion, a PE ratio of 136.57, a PEG ratio of 7.15 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 12 month low of $59.37 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, equities research analysts predict that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal year.

Enphase Energy 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.