Kentucky Retirement Systems Insurance Trust Fund Sells 380 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,009 shares of the semiconductor company’s stock after selling 380 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Enphase Energy were worth $453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Enphase Energy in the third quarter valued at approximately $34,000. Quest Partners LLC boosted its position in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the last quarter. Blue Trust Inc. grew its holdings in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after buying an additional 228 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Enphase Energy by 1,727.6% during the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after buying an additional 501 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENPH. Northland Securities cut their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday. William Blair initiated coverage on shares of Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Bank of America dropped their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Finally, Piper Sandler reduced their target price on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average price target of $102.09.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $61.36 on Wednesday. The company’s 50 day moving average is $93.59 and its 200-day moving average is $107.09. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a market cap of $8.29 billion, a P/E ratio of 139.45, a price-to-earnings-growth ratio of 18.32 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Sell-side analysts predict that Enphase Energy, Inc. will post 0.91 earnings per share 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.