Bailard Inc. Reduces Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Bailard Inc. reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 33.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,564 shares of the semiconductor company’s stock after selling 2,841 shares during the period. Bailard Inc.’s holdings in Enphase Energy were worth $382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after buying an additional 438,424 shares in the last quarter. Aspex Management HK Ltd purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $48,442,000. Finally, Montrusco Bolton Investments Inc. grew its position in shares of Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after buying an additional 424,327 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

ENPH stock opened at $57.86 on Wednesday. The firm has a 50 day moving average of $65.55 and a 200-day moving average of $82.85. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 78.19 and a beta of 1.68. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, equities analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

ENPH has been the subject of a number of research reports. Hsbc Global Res cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Morgan Stanley reduced their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target 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. Canaccord Genuity Group upgraded Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Finally, Glj Research restated a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $90.42.

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.