Teachers Retirement System of The State of Kentucky Lowers Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,102 shares of the semiconductor company’s stock after selling 691 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Enphase Energy were worth $1,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ENPH. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its stake in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new stake in Enphase Energy in the 2nd quarter worth about $51,582,000. Mizuho Securities USA LLC increased its stake in Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after buying an additional 438,424 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of Enphase Energy during the third quarter valued at approximately $48,442,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $68.80 on Thursday. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 156.36, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. 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 $76.71 and a 200 day moving average of $100.31. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same period in the previous year, the business posted $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada dropped their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Susquehanna dropped their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Truist Financial decreased their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Roth Mkm dropped their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Oppenheimer decreased their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.33.

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.