Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Shariaportfolio Inc.

Shariaportfolio Inc. reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,225 shares of the semiconductor company’s stock after selling 1,108 shares during the period. Enphase Energy makes up 1.2% of Shariaportfolio Inc.’s investment portfolio, making the stock its 14th largest position. Shariaportfolio Inc.’s holdings in Enphase Energy were worth $2,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Swedbank AB purchased a new position in Enphase Energy in the 1st quarter valued at about $424,130,000. Northern Trust Corp lifted its stake in shares of Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the period. Finally, Norges Bank acquired a new stake in shares of Enphase Energy during the fourth quarter worth $149,425,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 6.3 %

Shares of NASDAQ:ENPH opened at $118.53 on Wednesday. The business has a fifty day simple moving average of $112.41 and a 200 day simple moving average of $114.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a market cap of $16.13 billion, a P/E ratio of 61.73, a P/E/G ratio of 5.84 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 announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the prior year, the company posted $1.16 EPS. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. Analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group cut their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Craig Hallum increased their price target on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Glj Research assumed coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. Finally, William Blair initiated coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $128.89.

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.