Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 82.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,922 shares of the semiconductor company’s stock after selling 89,752 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Enphase Energy were worth $1,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westfield Capital Management Co. LP acquired a new stake in Enphase Energy in the fourth quarter valued at about $41,068,000. Northern Trust Corp lifted its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the period. Cetera Investment Advisers boosted its stake in shares of Enphase Energy by 279.6% in the first quarter. Cetera Investment Advisers now owns 24,248 shares of the semiconductor company’s stock valued at $2,934,000 after buying an additional 17,861 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in Enphase Energy during the first quarter worth $470,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ENPH shares. BMO Capital Markets boosted their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Barclays dropped their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Roth Mkm reissued a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Finally, William Blair started coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Four equities 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $128.76.

Enphase Energy Stock Performance

Enphase Energy stock opened at $112.91 on Wednesday. The stock has a fifty day moving average price of $110.81 and a 200 day moving average price of $115.67. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The firm has a market capitalization of $15.36 billion, a P/E ratio of 58.81, a PEG ratio of 6.22 and a beta of 1.71. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. Equities research analysts anticipate that Enphase Energy, Inc. will post 1.23 earnings per share for the current year.

Insider Buying and Selling

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

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.