abrdn plc Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

abrdn plc cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,897 shares of the semiconductor company’s stock after selling 2,584 shares during the quarter. abrdn plc’s holdings in Enphase Energy were worth $39,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ENPH. Harbor Capital Advisors Inc. purchased a new stake in Enphase Energy in the 3rd quarter worth approximately $1,273,000. Charles Schwab Investment Management Inc. lifted its holdings in Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after buying an additional 16,234 shares during the period. Erste Asset Management GmbH purchased a new stake in Enphase Energy in the 3rd quarter worth approximately $37,475,000. Mizuho Securities USA LLC lifted its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after buying an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc raised its position in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after acquiring an additional 31,008 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENPH. Evercore ISI decreased their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. TD Cowen decreased their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Roth Mkm decreased their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reissued a “hold” rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.79.

Enphase Energy Stock Performance

ENPH stock opened at $65.26 on Thursday. The company has a market cap of $8.82 billion, a P/E ratio of 148.32, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. Enphase Energy, Inc. has a 1 year low of $58.33 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The stock’s fifty day moving average price is $68.88 and its 200-day moving average price is $88.95.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current 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.