Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Group Inc. increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 314,643 shares of the semiconductor company’s stock after acquiring an additional 721 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Enphase Energy worth $35,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in shares of Enphase Energy during the 1st quarter valued at $424,130,000. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC increased its position in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP bought a new position in shares of Enphase Energy in the second quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Enphase Energy in the first quarter valued at approximately $59,128,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $59.52 on Friday. Enphase Energy, Inc. has a one year low of $59.12 and a one year high of $141.63. The company has a 50-day simple moving average of $95.27 and a two-hundred day simple moving average of $107.75. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $8.04 billion, a PE ratio of 135.27, a price-to-earnings-growth ratio of 6.80 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 the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, analysts anticipate that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ENPH shares. Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research note on Wednesday, October 23rd. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Raymond James lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America dropped their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Finally, Craig Hallum decreased their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $102.76.

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.