Hollencrest Capital Management Has $298,000 Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Hollencrest Capital Management decreased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,985 shares of the semiconductor company’s stock after selling 110 shares during the quarter. Hollencrest Capital Management’s holdings in Enphase Energy were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Enphase Energy by 3.4% during the second quarter. Canada Pension Plan Investment Board now owns 505,255 shares of the semiconductor company’s stock worth $50,379,000 after buying an additional 16,515 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of 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. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Enphase Energy by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,484 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 203 shares during the period. Inspire Investing LLC lifted its stake in Enphase Energy by 6.2% in the 2nd quarter. Inspire Investing LLC now owns 19,363 shares of the semiconductor company’s stock valued at $1,931,000 after purchasing an additional 1,131 shares during the last quarter. Finally, MQS Management LLC bought a new position in Enphase Energy during the second quarter worth about $290,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $117.36 on Friday. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 61.13, a PEG ratio of 5.84 and a beta of 1.72. 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, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63. The stock has a fifty day simple moving average of $112.97 and a 200 day simple moving average of $114.68.

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

Analysts Set New Price Targets

Several research firms have issued reports on ENPH. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group dropped their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. William Blair assumed coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Bank of America decreased their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Finally, Piper Sandler raised 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $128.89.

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.