Louisiana State Employees Retirement System Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Louisiana State Employees Retirement System lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,700 shares of the semiconductor company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Enphase Energy were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ENPH. Vanguard Group Inc. raised its stake in Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares during the period. Swedbank AB acquired a new position in shares of Enphase Energy during the first quarter worth about $424,130,000. Northern Trust Corp boosted its position in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares during the period. Norges Bank purchased a new stake in shares of Enphase Energy in the fourth quarter worth about $149,425,000. Finally, Nordea Investment Management AB boosted its holdings in Enphase Energy by 11.1% in the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after acquiring an additional 90,558 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets raised their price target on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price on the stock. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Finally, Susquehanna lifted their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $128.76.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by insiders.

Enphase Energy Trading Down 1.9 %

NASDAQ ENPH opened at $121.30 on Friday. The firm’s 50 day moving average price is $110.04 and its two-hundred day moving average price is $116.13. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 63.18, a PEG ratio of 5.59 and a beta of 1.71. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

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

Enphase Energy Company 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.