ING Groep NV Cuts Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

ING Groep NV reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 92.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,945 shares of the semiconductor company’s stock after selling 104,398 shares during the period. ING Groep NV’s holdings in Enphase Energy were worth $1,011,000 at the end of the most recent reporting period.

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

Enphase Energy Stock Down 6.4 %

ENPH stock opened at $59.52 on Monday. Enphase Energy, Inc. has a twelve month low of $59.12 and a twelve month high of $141.63. The stock has a market cap of $8.04 billion, a P/E ratio of 135.27, a PEG ratio of 18.20 and a beta of 1.77. The business’s 50-day moving average price is $95.27 and its 200-day moving average price is $107.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data 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 for the quarter was down 30.9% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.91 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ENPH shares. Hsbc Global Res lowered Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Canaccord Genuity Group decreased their target price on shares of Enphase Energy from $95.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Bank of America lowered their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.76.

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.