Impax Asset Management Group plc Acquires 31,008 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Impax Asset Management Group plc grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,109 shares of the semiconductor company’s stock after acquiring an additional 31,008 shares during the quarter. Impax Asset Management Group plc’s holdings in Enphase Energy were worth $25,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENPH. Swedbank AB lifted its holdings in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Enphase Energy during the 3rd quarter worth about $6,387,000. DekaBank Deutsche Girozentrale grew its stake in Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after buying an additional 85,284 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Enphase Energy by 54.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after acquiring an additional 15,776 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 4.7 %

Shares of NASDAQ ENPH opened at $87.46 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The stock has a market capitalization of $11.82 billion, a P/E ratio of 198.77, a PEG ratio of 9.38 and a beta of 1.77. The firm’s 50 day simple moving average is $104.89 and its two-hundred day simple moving average is $110.56.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter last year, the business posted $0.84 EPS. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, analysts expect that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ENPH shares. TD Cowen lowered their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Barclays decreased their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Oppenheimer lowered their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Roth Mkm decreased their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.26.

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.