Peapack Gladstone Financial Corp Makes New $292,000 Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Peapack Gladstone Financial Corp bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,583 shares of the semiconductor company’s stock, valued at approximately $292,000.

A number of other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. grew its position in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy during the second quarter worth about $51,582,000. Mizuho Securities USA LLC lifted its position in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the period. Finally, Aspex Management HK Ltd purchased a new stake in Enphase Energy in the 3rd quarter valued at approximately $48,442,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ENPH shares. Bank of America cut their target price 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. BMO Capital Markets decreased their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada lowered 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 research note on Friday, November 22nd. Northland Securities decreased their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Raymond James dropped their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.13.

Enphase Energy Price Performance

ENPH stock opened at $71.62 on Tuesday. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 162.77, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. The stock’s fifty day simple moving average is $78.05 and its 200-day simple moving average is $100.91. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities research analysts expect that Enphase Energy, Inc. will post 0.94 EPS 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.