MML Investors Services LLC Buys 4,508 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

MML Investors Services LLC grew its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 24.1% in the third quarter, Holdings Channel reports. The fund owned 23,229 shares of the semiconductor company’s stock after acquiring an additional 4,508 shares during the quarter. MML Investors Services LLC’s holdings in Enphase Energy were worth $2,625,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. raised its position in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after buying an additional 100 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Enphase Energy by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after acquiring an additional 106 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in 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 acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

ENPH opened at $73.84 on Monday. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 167.82, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. 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 stock has a fifty day simple moving average of $78.75 and a two-hundred day simple moving average of $101.33.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data 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 company 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 firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Research analysts predict that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of several analyst reports. Raymond James reduced their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Citigroup decreased their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. TD Cowen decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Oppenheimer decreased their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $101.13.

Enphase Energy 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.