Victory Capital Management Inc. Sells 9,767 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Victory Capital Management Inc. cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 28.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 24,106 shares of the semiconductor company’s stock after selling 9,767 shares during the quarter. Victory Capital Management Inc.’s holdings in Enphase Energy were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC boosted its position in Enphase Energy by 111.7% during the first quarter. Larson Financial Group LLC now owns 2,075 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 1,095 shares during the period. Wealthfront Advisers LLC increased its holdings in Enphase Energy by 1,047.0% during the 1st quarter. Wealthfront Advisers LLC now owns 56,064 shares of the semiconductor company’s stock worth $3,479,000 after acquiring an additional 51,176 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Enphase Energy by 361.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,070 shares of the semiconductor company’s stock worth $1,643,000 after purchasing an additional 37,426 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Enphase Energy by 52.9% in the 1st quarter. Edgestream Partners L.P. now owns 116,252 shares of the semiconductor company’s stock valued at $7,213,000 after purchasing an additional 40,243 shares during the period. Finally, CWM LLC increased its holdings in shares of Enphase Energy by 65.2% in the first quarter. CWM LLC now owns 10,021 shares of the semiconductor company’s stock worth $622,000 after purchasing an additional 3,954 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada set a $28.00 price target on Enphase Energy and gave the company a “sector perform” rating in a research report on Wednesday, June 18th. Bank of America dropped their price objective on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $37.00 target price (down previously from $64.00) on shares of Enphase Energy in a research note on Tuesday, July 15th. DZ Bank lowered Enphase Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 23rd. Finally, BNP Paribas Exane cut Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective on the stock. in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.86.

Enphase Energy Trading Down 4.2%

Shares of Enphase Energy stock opened at $33.48 on Wednesday. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 26.16 and a beta of 1.67. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08. The business has a 50-day moving average price of $40.68 and a 200-day moving average price of $51.73. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. Enphase Energy’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.