Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Group Inc. increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 314,643 shares of the semiconductor company’s stock after buying an additional 721 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Enphase Energy were worth $35,561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENPH. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy in the third quarter worth $1,273,000. Swedbank AB grew its position in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Impax Asset Management Group plc raised its holdings in 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 bought a new position in shares of Enphase Energy in the third quarter worth approximately $6,387,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 6.4 %

Shares of ENPH opened at $59.52 on Friday. The business’s 50 day moving average is $95.27 and its 200 day moving average is $107.75. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 12-month low of $59.12 and a 12-month high of $141.63. The company has a market capitalization of $8.04 billion, a PE ratio of 135.27, a price-to-earnings-growth ratio of 6.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. Research analysts expect that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ENPH shares. Oppenheimer lowered their price objective on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna reduced their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $102.76.

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.