Financial Advocates Investment Management Sells 866 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Financial Advocates Investment Management reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,062 shares of the semiconductor company’s stock after selling 866 shares during the period. Financial Advocates Investment Management’s holdings in Enphase Energy were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after acquiring an additional 58,040 shares during the last quarter. Swedbank AB raised its holdings in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares during the last quarter. Geode Capital Management LLC raised its holdings in Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after buying an additional 142,491 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after buying an additional 1,258,778 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 0.8 %

ENPH opened at $63.05 on Tuesday. The firm has a 50-day simple moving average of $68.37 and a two-hundred day simple moving average of $87.81. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a market capitalization of $8.52 billion, a PE ratio of 85.20, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate 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 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ENPH shares. Truist Financial reiterated a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Piper Sandler decreased their target price on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets decreased their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley decreased their target price on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Three research 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. According to MarketBeat, the stock presently has a consensus 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.