Allworth Financial LP Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Allworth Financial LP lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 70.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 510 shares of the semiconductor company’s stock after selling 1,240 shares during the period. Allworth Financial LP’s holdings in Enphase Energy were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Glj Research restated a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.42.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $64.83 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 87.61 and a beta of 1.68. The company’s 50-day moving average is $66.42 and its two-hundred day moving average is $84.37. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results 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 net margin of 7.72% and a return on equity of 15.62%. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Enphase Energy Company 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.