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

Shariaportfolio Inc. decreased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,225 shares of the semiconductor company’s stock after selling 1,108 shares during the quarter. Enphase Energy accounts for approximately 1.2% of Shariaportfolio Inc.’s holdings, 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 quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ENPH. Vanguard Personalized Indexing Management LLC raised its stake in shares of Enphase Energy by 24.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,587 shares of the semiconductor company’s stock valued at $943,000 after purchasing an additional 1,857 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Enphase Energy by 23.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,226 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 795 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Enphase Energy by 5.3% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,498 shares of the semiconductor company’s stock valued at $349,000 after buying an additional 176 shares during the last quarter. Virtu Financial LLC bought a new position in Enphase Energy during the second quarter worth $1,626,000. Finally, Lmcg Investments LLC raised its stake in shares of Enphase Energy by 3.7% in the second quarter. Lmcg Investments LLC now owns 64,562 shares of the semiconductor company’s stock valued at $6,437,000 after purchasing an additional 2,276 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $118.53 on Wednesday. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63. The business has a 50-day simple moving average of $112.41 and a 200-day simple moving average of $114.72. The stock has a market cap of $16.13 billion, a PE ratio of 61.73, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s quarterly revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, equities analysts expect that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Craig Hallum lifted their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Royal Bank of Canada reduced their price target on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.