KBC Group NV Purchases 11,578 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

KBC Group NV lifted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,583 shares of the semiconductor company’s stock after purchasing an additional 11,578 shares during the period. KBC Group NV’s holdings in Enphase Energy were worth $14,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ENPH. Avantax Advisory Services Inc. grew its holdings 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 purchasing an additional 1,599 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Enphase Energy by 4.5% during the 1st 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 acquiring an additional 6,275 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Enphase Energy by 17.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 165,014 shares of the semiconductor company’s stock worth $19,963,000 after acquiring an additional 24,317 shares in the last quarter. Banco Santander S.A. raised its stake in Enphase Energy by 7.8% during the 1st quarter. Banco Santander S.A. now owns 29,895 shares of the semiconductor company’s stock worth $3,617,000 after acquiring an additional 2,155 shares during the period. Finally, M&G Plc purchased a new position in Enphase Energy during the first quarter valued at approximately $7,244,000. Institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

ENPH has been the topic of several recent analyst reports. HSBC downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $154.00 to $81.00 in a research report on Friday, November 8th. Bank of America lowered their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Roth Mkm dropped their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Raymond James decreased their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group dropped their price target on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $102.76.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $59.52 on Friday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 12 month low of $59.12 and a 12 month high of $141.63. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77. The firm’s 50-day moving average is $95.27 and its 200 day moving average is $107.76.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 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 business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the company posted $0.84 EPS. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. Research analysts predict that Enphase Energy, Inc. will post 0.92 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.