Geode Capital Management LLC Acquires 20,579 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Geode Capital Management LLC increased its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,382,316 shares of the semiconductor company's stock after purchasing an additional 20,579 shares during the period. Geode Capital Management LLC owned approximately 2.50% of Enphase Energy worth $381,030,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ENPH. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. raised its holdings in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in Enphase Energy in the 3rd quarter valued at approximately $34,000. Stone House Investment Management LLC purchased a new stake in Enphase Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP bought a new stake in shares of Enphase Energy in the 3rd quarter worth $37,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. BNP Paribas downgraded Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a report on Friday, November 8th. Morgan Stanley lowered their target price on shares of Enphase Energy from $93.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. Canaccord Genuity Group downgraded shares of Enphase Energy from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Enphase Energy from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Guggenheim cut shares of Enphase Energy from a "neutral" rating to a "sell" rating and set a $73.00 target price on the stock. in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $101.13.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $0.84 on Friday, hitting $73.84. 1,925,151 shares of the company traded hands, compared to its average volume of 4,025,568. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The business has a 50-day simple moving average of $78.75 and a 200 day simple moving average of $101.50. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock has a market capitalization of $9.98 billion, a P/E ratio of 167.82, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results 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 net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business's revenue was down 30.9% on a year-over-year basis. Research analysts expect that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal 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.