Saturna Capital Corp Sells 1,920 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Saturna Capital Corp reduced its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 39.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,910 shares of the semiconductor company’s stock after selling 1,920 shares during the period. Saturna Capital Corp’s holdings in Enphase Energy were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ENPH. Harbor Capital Advisors Inc. acquired a new position in shares of Enphase Energy in the third quarter valued at about $1,273,000. Swedbank AB boosted its stake in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after buying an additional 11,890 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after buying an additional 31,008 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Enphase Energy in the third quarter worth about $6,387,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after buying an additional 29,013 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent analyst reports. Northland Securities lowered their price target on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial reduced their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Oppenheimer cut their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and cut their target price for the stock from $93.00 to $61.00 in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $103.39.

Enphase Energy Stock Up 1.1 %

Shares of NASDAQ ENPH opened at $60.75 on Wednesday. The business has a 50-day moving average of $98.28 and a two-hundred day moving average of $108.79. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy, Inc. has a 1 year low of $59.37 and a 1 year high of $141.63. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 136.57, a price-to-earnings-growth ratio of 7.15 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (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 company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the firm earned $0.84 EPS. The business’s revenue was down 30.9% on a year-over-year basis. On average, analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

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.