Kentucky Retirement Systems Sells 819 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Kentucky Retirement Systems trimmed its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,434 shares of the semiconductor company’s stock after selling 819 shares during the quarter. Kentucky Retirement Systems’ holdings in Enphase Energy were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ENPH. Benjamin Edwards Inc. increased its holdings in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the last quarter. Green Alpha Advisors LLC raised its position in shares of Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Enphase Energy by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after buying an additional 106 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after buying an additional 118 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on ENPH shares. Oppenheimer dropped their target price on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com raised Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America cut their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $93.00 to $61.00 in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $61.36 on Wednesday. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. The company has a 50 day moving average of $93.59 and a 200-day moving average of $107.09. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 139.45, a PEG ratio of 18.32 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share 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 net margin of 4.91% and a return on equity of 10.56%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.91 earnings per share for the current fiscal year.

About Enphase Energy

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.