Metis Global Partners LLC Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Metis Global Partners LLC trimmed its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 6.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,675 shares of the semiconductor company’s stock after selling 1,231 shares during the quarter. Metis Global Partners LLC’s holdings in Enphase Energy were worth $1,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its position in Enphase Energy by 23.8% during the first quarter. Avantax Advisory Services Inc. now owns 8,306 shares of the semiconductor company’s stock valued at $1,005,000 after acquiring an additional 1,599 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Enphase Energy by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 146,954 shares of the semiconductor company’s stock valued at $17,778,000 after purchasing an additional 6,275 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Enphase Energy by 17.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 165,014 shares of the semiconductor company’s stock valued at $19,963,000 after purchasing an additional 24,317 shares during the period. Banco Santander S.A. raised its holdings in shares of Enphase Energy by 7.8% in the 1st quarter. Banco Santander S.A. now owns 29,895 shares of the semiconductor company’s stock valued at $3,617,000 after buying an additional 2,155 shares during the period. Finally, M&G Plc purchased a new stake in Enphase Energy during the 1st quarter worth about $7,244,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ENPH. Raymond James decreased their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America dropped their price objective 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. William Blair started coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Susquehanna lowered their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $102.76.

Enphase Energy Trading Down 6.4 %

NASDAQ:ENPH opened at $59.52 on Friday. 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, Inc. has a one year low of $59.12 and a one year high of $141.63. The business’s 50-day simple moving average is $95.27 and its 200 day simple moving average is $107.76. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 135.27, a price-to-earnings-growth ratio of 6.80 and a beta of 1.77.

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

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.