Clarity Capital Partners LLC Trims Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Clarity Capital Partners LLC lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 31.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,117 shares of the semiconductor company’s stock after selling 979 shares during the period. Clarity Capital Partners LLC’s holdings in Enphase Energy were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after purchasing an additional 85,284 shares during the period. Norden Group LLC acquired a new stake in Enphase Energy during the 1st quarter valued at $209,000. First Trust Direct Indexing L.P. boosted its holdings in Enphase Energy by 39.3% in the first quarter. First Trust Direct Indexing L.P. now owns 3,344 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 944 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Enphase Energy by 9.2% during the first quarter. Private Advisor Group LLC now owns 15,864 shares of the semiconductor company’s stock valued at $1,919,000 after acquiring an additional 1,332 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Enphase Energy by 27.3% during the first quarter. Daiwa Securities Group Inc. now owns 32,446 shares of the semiconductor company’s stock valued at $3,925,000 after acquiring an additional 6,952 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $87.46 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 198.77, a price-to-earnings-growth ratio of 9.38 and a beta of 1.77. The company’s 50-day moving average is $104.89 and its 200 day moving average is $110.56. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ENPH shares. Evercore ISI dropped their price target on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Wednesday, October 23rd. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Finally, Craig Hallum reduced their target price on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.26.

About Enphase Energy

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.