Retirement Systems of Alabama Sells 449 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Retirement Systems of Alabama trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,564 shares of the semiconductor company’s stock after selling 449 shares during the quarter. Retirement Systems of Alabama’s holdings in Enphase Energy were worth $3,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares during the last quarter. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in Enphase Energy in the third quarter valued at approximately $34,000. Stone House Investment Management LLC bought a new stake in shares of Enphase Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy in the 3rd quarter valued at $37,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $65.80 on Friday. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a market cap of $8.89 billion, a P/E ratio of 149.55, a P/E/G 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. The stock’s 50-day simple moving average is $76.04 and its 200 day simple moving average is $100.07.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

ENPH has been the subject of a number of analyst reports. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Wednesday, October 23rd. Roth Mkm decreased their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Bank of America lowered their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Piper Sandler reduced their price objective on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, Northland Securities lowered their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.33.

Enphase Energy Company 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.