Van ECK Associates Corp Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Van ECK Associates Corp trimmed its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,453 shares of the semiconductor company's stock after selling 21,079 shares during the period. Van ECK Associates Corp's holdings in Enphase Energy were worth $4,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock worth $50,737,000 after buying an additional 438,424 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in Enphase Energy during the third quarter worth $48,442,000. Montrusco Bolton Investments Inc. grew its position in Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company's stock valued at $99,295,000 after buying an additional 424,327 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock valued at $31,830,000 after buying an additional 365,356 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Down 2.0 %

Enphase Energy stock traded down $1.32 during midday trading on Friday, hitting $64.85. 3,194,218 shares of the stock were exchanged, compared to its average volume of 3,856,543. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The stock's 50-day simple moving average is $66.89 and its 200 day simple moving average is $85.48. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 87.64 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

ENPH has been the topic of several recent analyst reports. Guggenheim raised shares of Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 target price on the stock in a research note on Friday, January 31st. BNP Paribas downgraded Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Citigroup upped their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Finally, Craig Hallum dropped their price target on shares of Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Three equities 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.com, Enphase Energy presently has a consensus rating of "Hold" and a consensus price target of $90.42.

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.