Bedell Frazier Investment Counselling LLC Raises Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Bedell Frazier Investment Counselling LLC lifted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,727 shares of the semiconductor company’s stock after acquiring an additional 803 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Enphase Energy were worth $986,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC grew its stake in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC acquired a new stake in shares of Enphase Energy during the third quarter worth about $34,000. Blue Trust Inc. lifted its holdings in shares of Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 228 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. BNP Paribas downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Friday, November 8th. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a report on Wednesday, October 23rd. Raymond James decreased their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, HSBC downgraded Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $154.00 to $81.00 in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Performance

Enphase Energy stock opened at $66.29 on Monday. The firm has a market capitalization of $8.96 billion, a P/E ratio of 150.66, a PEG ratio of 20.32 and a beta of 1.77. The stock has a fifty day moving average price of $90.93 and a 200 day moving average price of $106.04. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Equities research analysts anticipate that Enphase Energy, Inc. will post 0.91 earnings per share for the current year.

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.