Enphase Energy, Inc. $ENPH Stake Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 54.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,200 shares of the semiconductor company’s stock after selling 27,003 shares during the period. State of Alaska Department of Revenue’s holdings in Enphase Energy were worth $732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENPH. Mirador Capital Partners LP purchased a new stake in Enphase Energy during the 3rd quarter worth approximately $220,000. Green Alpha Advisors LLC boosted its stake in shares of Enphase Energy by 4.2% during the 3rd quarter. Green Alpha Advisors LLC now owns 16,974 shares of the semiconductor company’s stock valued at $560,000 after buying an additional 686 shares during the last quarter. Apella Capital LLC purchased a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $204,000. Sequoia Financial Advisors LLC purchased a new position in shares of Enphase Energy during the 2nd quarter valued at approximately $364,000. Finally, Tidal Investments LLC grew its position in shares of Enphase Energy by 75.1% during the second quarter. Tidal Investments LLC now owns 39,360 shares of the semiconductor company’s stock worth $1,938,000 after buying an additional 16,883 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. This represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Enphase Energy Trading Down 2.0%

NASDAQ ENPH opened at $31.35 on Friday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The company has a 50-day simple moving average of $34.88 and a 200-day simple moving average of $41.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The firm has a market capitalization of $4.14 billion, a PE ratio of 31.35 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. During the same period in the prior year, the company earned $0.69 EPS. Enphase Energy’s quarterly revenue was down 19.6% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Susquehanna dropped their price target on shares of Enphase Energy from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. TD Cowen cut their price target on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Royal Bank Of Canada reduced their price objective on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley decreased their price objective on shares of Enphase Energy from $27.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, October 14th. Finally, UBS Group set a $56.00 target price on shares of Enphase Energy in a research report on Wednesday, July 29th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.11.

Enphase Energy Profile

Enphase Energy, Inc develops and manufactures technology for residential and commercial solar energy systems. Its products include solar microinverters, which convert electricity generated by individual solar panels into usable power, along with integrated energy management technologies designed to improve system performance, monitoring and reliability.

The company also offers battery storage systems, electric vehicle chargers and software that enables customers, installers and utilities to monitor and manage distributed energy resources.