Partnership Wealth Management LLC Reduces Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Partnership Wealth Management LLC reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 19.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,245 shares of the semiconductor company’s stock after selling 300 shares during the period. Partnership Wealth Management LLC’s holdings in Enphase Energy were worth $141,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ENPH. Benjamin Edwards Inc. grew its position in Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares during the last quarter. Fermata Advisors LLC increased its position in Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after acquiring an additional 100 shares during the period. Hollencrest Capital Management raised its stake in Enphase Energy by 3.3% during the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ENPH shares. Canaccord Genuity Group decreased their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America dropped their price target on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. Craig Hallum increased their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Guggenheim lowered their price objective on Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a report on Friday, October 4th. Finally, Piper Sandler increased their target price on 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 issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $126.42.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $104.15 on Wednesday. The business’s 50-day simple moving average is $112.84 and its 200 day simple moving average is $113.93. The company has a market cap of $14.17 billion, a P/E ratio of 54.26, a PEG ratio of 6.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63.

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

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.