Cetera Advisors LLC Sells 38,493 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Cetera Advisors LLC reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 86.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,017 shares of the semiconductor company's stock after selling 38,493 shares during the period. Cetera Advisors LLC's holdings in Enphase Energy were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Swedbank AB acquired a new position in Enphase Energy in the 1st quarter worth about $424,130,000. Norges Bank acquired a new position in Enphase Energy in the 4th quarter worth about $149,425,000. Canada Pension Plan Investment Board acquired a new position in Enphase Energy in the 1st quarter worth about $59,128,000. Westfield Capital Management Co. LP acquired a new position in Enphase Energy in the 4th quarter worth about $41,068,000. Finally, Panagora Asset Management Inc. increased its position in Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company's stock worth $34,711,000 after purchasing an additional 255,175 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on ENPH shares. BMO Capital Markets upped their target price on Enphase Energy from $110.00 to $115.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 24th. Bank of America lowered their price objective on Enphase Energy from $71.00 to $70.00 and set an "underperform" rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. Wells Fargo & Company lowered their price objective on Enphase Energy from $141.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday, April 24th. Finally, Glj Research assumed coverage on Enphase Energy in a report on Tuesday, June 25th. They set a "sell" rating and a $45.82 price objective on the stock. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $128.96.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company's stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $0.94 during midday trading on Friday, hitting $107.86. 2,417,728 shares of the company were exchanged, compared to its average volume of 4,139,968. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a market cap of $14.68 billion, a P/E ratio of 56.18, a PEG ratio of 5.59 and a beta of 1.71. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The firm has a 50 day simple moving average of $112.32 and a 200-day simple moving average of $115.25.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy's quarterly revenue was down 57.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. Research analysts forecast that Enphase Energy, Inc. will post 1.24 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.