Enphase Energy, Inc. (NASDAQ:ENPH) Position Reduced by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,955 shares of the semiconductor company’s stock after selling 621 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enphase Energy were worth $594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ENPH. Donoghue Forlines LLC boosted its stake in Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after buying an additional 90 shares in the last quarter. Fermata Advisors LLC boosted its position in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its holdings in shares of Enphase Energy by 0.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after purchasing an additional 107 shares in the last quarter. Finally, VitalStone Financial LLC lifted its stake in Enphase Energy by 14.3% during the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 111 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Trading Down 3.2 %

Enphase Energy stock opened at $115.49 on Friday. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company’s fifty day moving average price is $109.90 and its two-hundred day moving average price is $115.73. The company has a market capitalization of $15.71 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 5.59 and a beta of 1.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. On average, analysts forecast that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. HSBC raised Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a report on Monday, June 10th. BMO Capital Markets lifted their price target on Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Susquehanna upped their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Finally, Guggenheim lifted their target price on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $128.76.

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.