Texas Permanent School Fund Corp Lowers Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Texas Permanent School Fund Corp trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,450 shares of the semiconductor company’s stock after selling 5,615 shares during the period. Texas Permanent School Fund Corp’s holdings in Enphase Energy were worth $2,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares in the last quarter. Baillie Gifford & Co. lifted its stake 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 buying an additional 2,304,408 shares in the last quarter. Swedbank AB purchased a new stake in shares of Enphase Energy during the first quarter valued at approximately $424,130,000. Northern Trust Corp increased its position 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 acquiring an additional 3,940 shares in the last quarter. Finally, Norges Bank purchased a new position in Enphase Energy in the 4th quarter worth approximately $149,425,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

ENPH has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Craig Hallum boosted their price objective on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays decreased their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Susquehanna lifted their price target on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. Finally, Canaccord Genuity Group decreased their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Trading Up 6.3 %

ENPH opened at $118.53 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The stock’s 50 day moving average price is $112.41 and its 200-day moving average price is $114.72. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 61.60, a P/E/G ratio of 5.84 and a beta of 1.72.

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

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.