Allspring Global Investments Holdings LLC Trims Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,359 shares of the semiconductor company’s stock after selling 3,563 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Enphase Energy were worth $1,736,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Manchester Capital Management LLC grew its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. lifted its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC purchased a new position in Enphase Energy in the 3rd quarter valued at $34,000. Finally, Quest Partners LLC increased its stake in Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Craig Hallum lowered their target price on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley dropped their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Down 0.7 %

ENPH opened at $82.47 on Thursday. The firm has a market cap of $11.22 billion, a P/E ratio of 42.95, a PEG ratio of 8.07 and a beta of 1.72. The business’s fifty day simple moving average is $107.06 and its 200 day simple moving average is $111.17. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 1.18 EPS 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.