Enphase Energy, Inc. (NASDAQ:ENPH) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735,360 shares of the semiconductor company’s stock after selling 91,382 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.54% of Enphase Energy worth $83,110,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after buying an additional 58,040 shares in the last quarter. Swedbank AB purchased a new stake in shares of Enphase Energy during the first quarter worth $424,130,000. Electron Capital Partners LLC boosted its position in Enphase Energy by 1,021.4% during the second 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 last quarter. Handelsbanken Fonder AB grew its stake in Enphase Energy by 71.0% in the third quarter. Handelsbanken Fonder AB now owns 714,364 shares of the semiconductor company’s stock valued at $80,737,000 after purchasing an additional 296,498 shares in the last quarter. Finally, Mirova US LLC raised its stake in shares of Enphase Energy by 2.7% during the 2nd quarter. Mirova US LLC now owns 579,241 shares of the semiconductor company’s stock worth $57,756,000 after purchasing an additional 15,444 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $59.52 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The business has a 50-day moving average of $95.27 and a 200-day moving average of $107.77. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 135.27, a PEG ratio of 18.20 and a beta of 1.77. Enphase Energy, Inc. has a fifty-two week low of $59.12 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results 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). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Craig Hallum cut their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, William Blair began coverage on shares of Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.