Financial Advocates Investment Management Has $463,000 Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Financial Advocates Investment Management reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,647 shares of the semiconductor company’s stock after selling 219 shares during the quarter. Financial Advocates Investment Management’s holdings in Enphase Energy were worth $463,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in Enphase Energy by 3.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,133 shares of the semiconductor company’s stock valued at $1,110,000 after purchasing an additional 380 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Enphase Energy by 6.2% in the second quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company’s stock valued at $3,940,000 after purchasing an additional 2,300 shares in the last quarter. Bailard Inc. lifted its position in Enphase Energy by 12.5% in the second quarter. Bailard Inc. now owns 8,189 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 907 shares during the period. Baillie Gifford & Co. boosted its stake in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in Enphase Energy during the second quarter worth $54,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Trading Down 0.6 %

Shares of NASDAQ:ENPH traded down $0.78 during midday trading on Thursday, hitting $122.87. The company had a trading volume of 500,402 shares, compared to its average volume of 3,948,479. The firm has a fifty day simple moving average of $109.78 and a 200 day simple moving average of $116.09. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 64.40, a PEG ratio of 5.59 and a beta of 1.71. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63.

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

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 transaction of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. HSBC raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a report on Monday, June 10th. Guggenheim lifted their price target on shares of Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a report on Wednesday, July 24th. Bank of America dropped their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Craig Hallum boosted their target price on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $128.76.

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.