Financial Advocates Investment Management Sells 719 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Financial Advocates Investment Management lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.5% in the 3rd quarter, Holdings Channel reports. The firm owned 3,928 shares of the semiconductor company’s stock after selling 719 shares during the quarter. Financial Advocates Investment Management’s holdings in Enphase Energy were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its position in shares of Enphase Energy by 2.8% in the second 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 lifted its stake in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after purchasing an additional 100 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Enphase Energy by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 106 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Enphase Energy by 0.4% in the first quarter. Jennison Associates LLC now owns 30,598 shares of the semiconductor company’s stock worth $3,702,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of several research analyst reports. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Roth Mkm dropped their price target 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. Morgan Stanley decreased their price objective on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Barclays dropped their target price on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, 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 report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $83.54 on Friday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $104.89 and a 200-day moving average price of $110.57. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 189.86, a price-to-earnings-growth ratio of 9.26 and a beta of 1.72. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 0.92 EPS for the current year.

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.