Enphase Energy, Inc. (NASDAQ:ENPH) Stake Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 25.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 253,116 shares of the semiconductor company’s stock after selling 84,390 shares during the period. Principal Financial Group Inc.’s holdings in Enphase Energy were worth $28,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Michigan Retirement System raised its position in Enphase Energy by 6.2% during the second quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company’s stock valued at $3,940,000 after buying an additional 2,300 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Enphase Energy by 3.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,133 shares of the semiconductor company’s stock valued at $1,110,000 after buying an additional 380 shares during the period. Banco Santander S.A. increased its stake in Enphase Energy by 32.7% in the 2nd quarter. Banco Santander S.A. now owns 39,670 shares of the semiconductor company’s stock valued at $3,955,000 after buying an additional 9,775 shares during the period. Crossmark Global Holdings Inc. boosted its stake 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 buying an additional 106 shares during the period. Finally, KCM Investment Advisors LLC grew its holdings in shares of Enphase Energy by 11.1% during the 2nd quarter. KCM Investment Advisors LLC now owns 9,982 shares of the semiconductor company’s stock valued at $995,000 after acquiring an additional 995 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Craig Hallum reduced their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, October 23rd. Finally, Raymond James reduced their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $100.33.

Enphase Energy Stock Up 0.4 %

Enphase Energy stock opened at $73.28 on Wednesday. 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 1-year low of $58.33 and a 1-year high of $141.63. The company has a fifty day simple moving average of $74.51 and a 200 day simple moving average of $98.46. The company has a market cap of $9.90 billion, a P/E ratio of 166.55, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the company earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. Research analysts anticipate that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

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.