Rhumbline Advisers Decreases Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Rhumbline Advisers reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,315 shares of the semiconductor company's stock after selling 4,804 shares during the quarter. Rhumbline Advisers owned 0.22% of Enphase Energy worth $30,343,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC raised its position in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 246 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy during the 1st quarter worth about $35,000. TFO Wealth Partners LLC increased its stake in shares of Enphase Energy by 6,720.0% in the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 336 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Enphase Energy by 50.9% in the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 144 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Enphase Energy from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Susquehanna upped their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a "positive" rating in a research report on Monday, July 15th. Bank of America dropped their target price on shares of Enphase Energy from $71.00 to $70.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 17th. Roth Mkm restated a "buy" rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Finally, William Blair began coverage on Enphase Energy in a report on Thursday, August 29th. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $128.89.

Insider Activity

In related news, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares of the company's stock, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.40% of the company's stock.

Enphase Energy Trading Down 3.1 %

NASDAQ:ENPH traded down $3.43 during trading hours on Friday, reaching $108.65. 1,628,396 shares of the stock were exchanged, compared to its average volume of 3,889,740. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The business has a 50-day moving average of $111.33 and a two-hundred day moving average of $115.38. The company has a market capitalization of $14.78 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 6.22 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results 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). The firm had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy's revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. On average, equities analysts predict that Enphase Energy, Inc. will post 1.23 EPS for the current 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.