Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 253,116 shares of the semiconductor company's stock after selling 84,390 shares during the quarter. Principal Financial Group Inc. owned 0.19% of Enphase Energy worth $28,607,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ENPH. Impax Asset Management Group plc boosted its stake in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company's stock worth $25,555,000 after acquiring an additional 31,008 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its stake in shares of Enphase Energy by 34.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 173,420 shares of the semiconductor company's stock worth $19,600,000 after acquiring an additional 44,864 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Enphase Energy by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company's stock worth $6,206,000 after acquiring an additional 190 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of Enphase Energy by 252.2% in the third quarter. Emerald Advisers LLC now owns 6,770 shares of the semiconductor company's stock worth $765,000 after buying an additional 4,848 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Enphase Energy by 3.3% during the third quarter. Van ECK Associates Corp now owns 87,532 shares of the semiconductor company's stock valued at $9,893,000 after buying an additional 2,789 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

ENPH traded down $0.11 on Wednesday, hitting $59.98. 3,327,752 shares of the company's stock were exchanged, compared to its average volume of 3,986,340. Enphase Energy, Inc. has a fifty-two week low of $59.26 and a fifty-two week high of $141.63. 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 firm has a 50-day moving average price of $98.28 and a 200-day moving average price of $108.79. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 137.57, a P/E/G ratio of 6.75 and a beta of 1.77.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENPH shares. Susquehanna reduced their target price on shares of Enphase Energy from $104.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Piper Sandler reduced their price objective on shares of Enphase Energy from $105.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Northland Securities dropped their target price on shares of Enphase Energy from $150.00 to $110.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Bank of America lowered their target price on shares of Enphase Energy from $72.00 to $62.00 and set an "underperform" rating on the stock in a report on Thursday, November 7th. Finally, Hsbc Global Res downgraded shares of Enphase Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has an average rating of "Hold" and a consensus price target of $103.39.

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.