Eastern Bank Boosts Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Eastern Bank lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 29.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,225 shares of the semiconductor company’s stock after acquiring an additional 2,800 shares during the quarter. Eastern Bank’s holdings in Enphase Energy were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ENPH. Acadian Asset Management LLC purchased a new stake in shares of Enphase Energy during the second quarter worth $431,000. Quest Partners LLC grew its stake in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Enphase Energy by 67.5% during the second quarter. American Century Companies Inc. now owns 375,548 shares of the semiconductor company’s stock worth $37,446,000 after purchasing an additional 151,339 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Enphase Energy by 73.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 153,590 shares of the semiconductor company’s stock worth $16,376,000 after purchasing an additional 64,894 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Enphase Energy by 54.9% during the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after purchasing an additional 15,776 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Up 0.2 %

NASDAQ ENPH opened at $66.87 on Tuesday. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $9.03 billion, a P/E ratio of 151.98, a P/E/G ratio of 21.92 and a beta of 1.68. The firm has a 50-day moving average price of $70.53 and a 200 day moving average price of $94.11.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (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 company had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same period last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. Equities research analysts expect that Enphase Energy, Inc. will post 0.94 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on ENPH. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their target price on shares of Enphase Energy from $145.00 to $121.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Raymond James decreased their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.86.

Enphase Energy 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.