Panagora Asset Management Inc. Sells 6,208 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Panagora Asset Management Inc. trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 67.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,027 shares of the semiconductor company's stock after selling 6,208 shares during the period. Panagora Asset Management Inc.'s holdings in Enphase Energy were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Freres Gestion S.A.S. purchased a new position in Enphase Energy during the 2nd quarter worth approximately $309,000. Banco Santander S.A. boosted its stake in shares of Enphase Energy by 32.7% during the 2nd quarter. Banco Santander S.A. now owns 39,670 shares of the semiconductor company's stock valued at $3,955,000 after buying an additional 9,775 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Enphase Energy by 3.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,133 shares of the semiconductor company's stock valued at $1,110,000 after buying an additional 380 shares during the period. State of Michigan Retirement System boosted its stake in shares of Enphase Energy by 6.2% during the 2nd quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company's stock valued at $3,940,000 after buying an additional 2,300 shares during the period. Finally, Bailard Inc. boosted its stake in shares of Enphase Energy by 12.5% during the 2nd quarter. Bailard Inc. now owns 8,189 shares of the semiconductor company's stock valued at $817,000 after buying an additional 907 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research reports. Susquehanna lifted their target price on shares of Enphase Energy from $140.00 to $147.00 and gave the company a "positive" rating in a research note on Monday, July 15th. Roth Mkm reissued a "buy" rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Barclays decreased their target price on shares of Enphase Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a research note on Thursday, July 25th. William Blair began coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They set a "market perform" rating for the company. Finally, Canaccord Genuity Group reduced their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has an average rating of "Hold" and an average price target of $128.89.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded down $1.03 on Thursday, hitting $112.08. 1,187,985 shares of the company were exchanged, compared to its average volume of 3,902,948. The company's 50 day moving average price is $111.15 and its two-hundred day moving average price is $115.63. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 58.38, a PEG ratio of 6.22 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The business's revenue for the quarter was down 57.3% compared to the same quarter last year. Research analysts expect that Enphase Energy, Inc. will post 1.23 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated 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 $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.40% of the company's stock.

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.