Principal Financial Group Inc. Has $28.61 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Principal Financial Group Inc. lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 25.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,116 shares of the semiconductor company's stock after selling 84,390 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of Enphase Energy worth $28,607,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State of Michigan Retirement System raised its stake in Enphase Energy by 6.2% during the second quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company's stock worth $3,940,000 after buying an additional 2,300 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position 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 acquiring an additional 380 shares during the period. Banco Santander S.A. raised its stake in shares of Enphase Energy by 32.7% in the second 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. Crossmark Global Holdings Inc. raised its stake in Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company's stock valued at $557,000 after acquiring an additional 106 shares during the period. Finally, KCM Investment Advisors LLC boosted its holdings in Enphase Energy by 11.1% in the 2nd quarter. KCM Investment Advisors LLC now owns 9,982 shares of the semiconductor company's stock worth $995,000 after buying an additional 995 shares during the period. Institutional investors own 72.12% of the company's stock.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent analyst reports. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 target price on the stock. in a research note on Friday, November 8th. Craig Hallum reduced their price target on shares of Enphase Energy from $153.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Susquehanna lowered their target price on Enphase Energy from $104.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada cut their price target on shares of Enphase Energy from $85.00 to $71.00 and set a "sector perform" rating on the stock in a report on Friday, November 22nd. Finally, Bank of America dropped their price target on Enphase Energy from $72.00 to $62.00 and set an "underperform" rating for the company in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $100.33.

Enphase Energy Trading Up 0.4 %

ENPH traded up $0.28 on Wednesday, reaching $73.28. 1,166,530 shares of the company's stock were exchanged, compared to its average volume of 4,012,914. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company's 50 day moving average is $74.11 and its 200-day moving average is $98.29. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 166.55, a PEG ratio of 22.03 and a beta of 1.69. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share 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 firm had revenue of $380.90 million during the quarter, compared to analysts' expectations of $392.51 million. During the same period in the previous year, the company earned $0.84 earnings per share. The business's quarterly revenue was down 30.9% on a year-over-year basis. Equities analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current year.

About Enphase Energy

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.