Hartline Investment Corp Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Hartline Investment Corp lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 47.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,966 shares of the semiconductor company’s stock after selling 23,399 shares during the quarter. Hartline Investment Corp’s holdings in Enphase Energy were worth $1,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $1,273,000. Charles Schwab Investment Management Inc. boosted its stake in Enphase Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after purchasing an additional 16,234 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Enphase Energy during the 3rd quarter valued at $37,475,000. Mizuho Securities USA LLC boosted its stake in Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after purchasing an additional 31,008 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ENPH. JPMorgan Chase & Co. cut their target price on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and cut their target price for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Glj Research reiterated a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. TD Cowen cut their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Finally, BMO Capital Markets dropped their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $63.05 on Tuesday. The stock’s 50-day simple moving average is $68.37 and its 200-day simple moving average is $87.81. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 85.20, a PEG ratio of 8.78 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, analysts expect that Enphase Energy, Inc. will post 2.12 earnings per share 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.