Handelsbanken Fonder AB Has $80.74 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Handelsbanken Fonder AB raised its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 71.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,364 shares of the semiconductor company’s stock after buying an additional 296,498 shares during the quarter. Handelsbanken Fonder AB owned 0.53% of Enphase Energy worth $80,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after acquiring an additional 3,940 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after buying an additional 85,284 shares in the last quarter. Doheny Asset Management CA bought a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $8,095,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after acquiring an additional 15,776 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ENPH. Canaccord Genuity Group cut their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $115.00 to $114.00 and set a “market perform” rating for the company in a research report on Wednesday. Glj Research began coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective for the company. Finally, Piper Sandler boosted their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.17.

Enphase Energy Trading Down 0.8 %

Shares of Enphase Energy stock traded down $0.84 on Friday, hitting $105.95. 2,732,819 shares of the company’s stock traded hands, compared to its average volume of 3,746,257. The company has a fifty day moving average of $113.09 and a two-hundred day moving average of $114.03. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period last year, the business earned $1.16 EPS. The business’s quarterly revenue was down 57.3% compared to the same quarter last year. As a group, sell-side analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

About Enphase Energy

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.