Retirement Systems of Alabama Sells 449 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Retirement Systems of Alabama lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 29,564 shares of the semiconductor company’s stock after selling 449 shares during the quarter. Retirement Systems of Alabama’s holdings in Enphase Energy were worth $3,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in Enphase Energy by 10.1% in the 2nd quarter. Fifth Third Bancorp now owns 5,692 shares of the semiconductor company’s stock valued at $568,000 after acquiring an additional 521 shares during the period. Family Firm Inc. acquired a new position in shares of Enphase Energy in the second quarter valued at $54,000. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Bailard Inc. lifted its stake in shares of Enphase Energy by 12.5% during the 2nd quarter. Bailard Inc. now owns 8,189 shares of the semiconductor company’s stock worth $817,000 after buying an additional 907 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of Enphase Energy by 6.2% during the 2nd quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company’s stock worth $3,940,000 after buying an additional 2,300 shares during the period. Institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ENPH. Morgan Stanley lowered their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, October 23rd. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. TD Cowen lowered their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $76.00 target price on shares of Enphase Energy in a research report on Tuesday, November 19th. Four research 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Trading Down 4.4 %

ENPH opened at $65.80 on Friday. The company’s 50 day moving average is $76.04 and its 200-day moving average is $100.07. The company has a market cap of $8.89 billion, a P/E ratio of 149.55, a PEG ratio of 22.03 and a beta of 1.69. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. 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 (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company 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%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

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.