Enphase Energy, Inc. (NASDAQ:ENPH) Holdings Cut by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,509 shares of the semiconductor company’s stock after selling 1,346 shares during the quarter. iA Global Asset Management Inc.’s holdings in Enphase Energy were worth $6,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENPH. Blue Trust Inc. raised its holdings in shares of Enphase Energy by 194.6% during the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 218 shares in the last quarter. Caprock Group LLC bought a new position in Enphase Energy in the 4th quarter worth $216,000. TriaGen Wealth Management LLC raised its holdings in Enphase Energy by 26.4% in the 4th quarter. TriaGen Wealth Management LLC now owns 6,052 shares of the semiconductor company’s stock worth $800,000 after acquiring an additional 1,264 shares during the period. International Assets Investment Management LLC acquired a new stake in Enphase Energy in the 4th quarter worth $53,950,000. Finally, LA Financiere DE L Echiquier boosted its position in Enphase Energy by 44.8% in the fourth quarter. LA Financiere DE L Echiquier now owns 153,500 shares of the semiconductor company’s stock valued at $20,283,000 after buying an additional 47,500 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ENPH shares. Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Wednesday, July 24th. Glj Research began coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target for the company. BMO Capital Markets raised their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Mizuho cut their target price on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Royal Bank of Canada cut their target price on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average price target of $128.53.

Enphase Energy Stock Down 4.7 %

Shares of Enphase Energy stock traded down $5.43 during trading on Thursday, reaching $109.68. 3,259,916 shares of the company traded hands, compared to its average volume of 4,184,413. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $145.50. The company has a 50 day moving average price of $115.15 and a 200-day moving average price of $115.30. The firm has a market capitalization of $14.92 billion, a PE ratio of 58.22, a P/E/G ratio of 5.58 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, equities research analysts expect that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the transaction, the director now owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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.