Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 42.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,406 shares of the semiconductor company’s stock after selling 13,652 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Enphase Energy were worth $2,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Manchester Capital Management LLC lifted its position in Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC lifted its holdings in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares during the period. UMB Bank n.a. boosted its stake in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the third quarter worth about $34,000. Finally, Blue Trust Inc. raised its position in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 228 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Up 0.1 %

Shares of ENPH opened at $91.64 on Friday. The stock has a fifty day simple moving average of $111.25 and a two-hundred day simple moving average of $112.87. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $12.47 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63.

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). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s quarterly revenue was down 57.3% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. As a group, equities analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ENPH. Canaccord Genuity Group lowered their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Barclays cut their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Glj Research started coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 target price on the stock. Bank of America lifted their price target on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.33.

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.