Thrivent Financial for Lutherans Cuts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Thrivent Financial for Lutherans cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 11.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 735,360 shares of the semiconductor company's stock after selling 91,382 shares during the period. Thrivent Financial for Lutherans owned about 0.54% of Enphase Energy worth $83,110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENPH. UMB Bank n.a. boosted its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new stake in shares of Enphase Energy during the 3rd quarter valued at $34,000. Quest Partners LLC grew its position in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 461 shares during the period. Blue Trust Inc. boosted its holdings in Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company's stock worth $49,000 after buying an additional 228 shares during the period. Finally, Mather Group LLC. lifted its stake in Enphase Energy by 1,727.6% in the 2nd quarter. Mather Group LLC. now owns 530 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 501 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENPH has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of Enphase Energy from a "hold" rating to an "underperform" rating and cut their price target for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Bank of America reduced their target price on shares of Enphase Energy from $72.00 to $62.00 and set an "underperform" rating for the company in a report on Thursday, November 7th. StockNews.com upgraded shares of Enphase Energy from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Royal Bank of Canada dropped their target price on shares of 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. Finally, Hsbc Global Res downgraded shares of Enphase Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $102.76.

Enphase Energy Stock Performance

Enphase Energy stock traded up $2.88 during trading hours on Monday, reaching $62.40. 7,241,821 shares of the stock were exchanged, compared to its average volume of 4,058,368. The stock has a market cap of $8.43 billion, a P/E ratio of 141.82, a P/E/G ratio of 18.20 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The firm's 50 day moving average is $94.46 and its 200 day moving average is $107.46.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.84 earnings per share. Analysts predict that Enphase Energy, Inc. will post 0.91 EPS for the current fiscal year.

Enphase Energy 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.