Allspring Global Investments Holdings LLC Has $772,000 Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Allspring Global Investments Holdings LLC lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 29.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,815 shares of the semiconductor company’s stock after selling 4,544 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Enphase Energy were worth $772,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Enphase Energy during the 3rd quarter valued at $37,000. Blue Trust Inc. lifted its position in shares of Enphase Energy by 109.1% during the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 228 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Enphase Energy during the third quarter worth $55,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $64.85 on Monday. The company has a 50-day simple moving average of $66.71 and a 200 day simple moving average of $84.97. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 87.64 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on ENPH shares. The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Friday, November 8th. Oppenheimer increased their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.42.

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.