Vestcor Inc Sells 4,554 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Vestcor Inc cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 62.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,752 shares of the semiconductor company’s stock after selling 4,554 shares during the quarter. Vestcor Inc’s holdings in Enphase Energy were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENPH. Benjamin Edwards Inc. lifted its position in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 93 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the period. Green Alpha Advisors LLC boosted its position in shares of Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after buying an additional 106 shares during the period. Finally, Centaurus Financial Inc. increased its position in Enphase Energy by 10.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 118 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Stock Up 1.2 %

ENPH stock opened at $73.84 on Friday. The stock has a fifty day moving average of $78.75 and a 200-day moving average of $101.69. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 167.82, a PEG ratio of 22.03 and a beta of 1.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last posted 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). The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, equities research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENPH. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a research report on Friday, November 8th. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Oppenheimer reduced their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.13.

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.