Empirical Asset Management LLC Purchases New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Empirical Asset Management LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 20,194 shares of the semiconductor company’s stock, valued at approximately $1,387,000.

Several other institutional investors and hedge funds also recently modified their holdings of ENPH. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after buying an additional 58,040 shares during the period. Swedbank AB raised its stake in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the period. Geode Capital Management LLC lifted its position in shares of Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ENPH. Barclays decreased their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Canaccord Genuity Group reiterated a “hold” rating and set a $76.00 target price on shares of Enphase Energy in a research note on Tuesday, November 19th. Finally, BMO Capital Markets dropped their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $95.59.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $63.69 on Friday. 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 firm’s 50 day moving average is $69.22 and its two-hundred day moving average is $92.96. The firm has a market capitalization of $8.61 billion, a P/E ratio of 144.75, a PEG ratio of 7.87 and a beta of 1.68. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s revenue was down 30.9% on a year-over-year basis. Analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current 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.