Inspire Investing LLC Boosts Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Inspire Investing LLC raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,363 shares of the semiconductor company’s stock after purchasing an additional 1,131 shares during the quarter. Inspire Investing LLC’s holdings in Enphase Energy were worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ENPH. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after acquiring an additional 192,854 shares in the last quarter. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Swedbank AB acquired a new position in shares of Enphase Energy during the first quarter worth about $424,130,000. Northern Trust Corp boosted its position in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $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 in the fourth quarter valued at about $149,425,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENPH shares. JPMorgan Chase & Co. boosted their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Canaccord Genuity Group dropped 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. Morgan Stanley increased 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. Finally, BMO Capital Markets lifted their price objective on Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Four 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, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Stock Down 2.0 %

Shares of ENPH stock opened at $117.36 on Friday. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63. 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 $15.97 billion, a PE ratio of 61.34, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The stock has a 50 day moving average of $112.97 and a 200-day moving average of $114.68.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly 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 net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period last year, the company earned $1.16 earnings per share. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, equities analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current 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.