Assenagon Asset Management S.A. Has $11.09 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Assenagon Asset Management S.A. cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 3.6% in the third quarter, Holdings Channel.com reports. The firm owned 98,096 shares of the semiconductor company’s stock after selling 3,695 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Enphase Energy were worth $11,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC boosted its stake in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy in the 3rd quarter worth $34,000. Finally, Quest Partners LLC boosted its stake in Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $83.83 on Monday. The company’s 50 day moving average price is $108.44 and its two-hundred day moving average price is $111.67. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The firm has a market cap of $11.41 billion, a PE ratio of 43.66, a PEG ratio of 8.07 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last announced 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). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ENPH. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Oppenheimer cut their price target on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley cut their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.26.

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.