Guinness Asset Management LTD Has $7.40 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Guinness Asset Management LTD lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,739 shares of the semiconductor company's stock after selling 29,157 shares during the quarter. Guinness Asset Management LTD owned about 0.08% of Enphase Energy worth $7,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 279 shares during the period. UMB Bank n.a. grew its holdings in 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 acquiring an additional 259 shares during the period. nVerses Capital LLC bought a new stake in Enphase Energy in the third quarter worth about $34,000. Stone House Investment Management LLC acquired a new stake in Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quarry LP bought a new position in shares of Enphase Energy during the 3rd quarter valued at about $37,000. Institutional investors own 72.12% of the company's stock.

Wall Street Analyst Weigh In

ENPH has been the subject of several recent research reports. StockNews.com raised shares of Enphase Energy from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Roth Mkm reduced their target price on Enphase Energy from $130.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Susquehanna dropped their price target on Enphase Energy from $104.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Janney Montgomery Scott lowered shares of Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price objective for the company. in a research note on Wednesday, October 23rd. Finally, Morgan Stanley dropped 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 report on Friday, November 15th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $95.59.

Enphase Energy Stock Performance

Enphase Energy stock traded up $0.22 during trading hours on Monday, reaching $63.69. 3,116,627 shares of the company were exchanged, compared to its average volume of 2,583,824. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 144.75, a PEG ratio of 7.87 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average of $69.22 and a 200 day moving average of $92.90.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its 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). The firm 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%. The business's quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, research analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current 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.