Enphase Energy, Inc. (NASDAQ:ENPH) Stake Increased by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd significantly increased its stake in Enphase Energy by 650.0%, owning a total of 52,500 shares valued at approximately $3.26 million after acquiring an additional 45,500 shares.
• Institutional investors now hold 72.12% of Enphase Energy's stock, with several funds recently adjusting their stakes, including Costello Asset Management and Generali Investments, which boosted their holdings.
• Analysts are cautiously optimistic, with a current average rating of "Hold" and an average target price of $55.22, despite some downgrades, including BNP Paribas changing its rating from "outperform" to "underperform."

Maxi Investments CY Ltd increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 650.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,500 shares of the semiconductor company's stock after buying an additional 45,500 shares during the period. Maxi Investments CY Ltd's holdings in Enphase Energy were worth $3,258,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Costello Asset Management INC bought a new stake in Enphase Energy during the first quarter valued at $89,000. New Age Alpha Advisors LLC bought a new stake in Enphase Energy during the first quarter valued at $468,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Enphase Energy by 52.6% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 29,000 shares of the semiconductor company's stock valued at $1,799,000 after purchasing an additional 10,000 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in shares of Enphase Energy by 6.3% in the 1st quarter. Liberty Wealth Management LLC now owns 129,614 shares of the semiconductor company's stock worth $8,043,000 after purchasing an additional 7,722 shares during the last quarter. Finally, Banco Santander S.A. lifted its holdings in shares of Enphase Energy by 19.5% in the 1st quarter. Banco Santander S.A. now owns 82,076 shares of the semiconductor company's stock worth $5,093,000 after purchasing an additional 13,417 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BNP Paribas downgraded Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. Guggenheim reissued a "sell" rating and set a $33.00 price target on shares of Enphase Energy in a report on Wednesday, April 23rd. Barclays boosted their price target on shares of Enphase Energy from $28.00 to $29.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Truist Financial reduced their price target on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler reduced their price target on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.22.

Enphase Energy Price Performance

Shares of ENPH opened at $31.69 on Tuesday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 24.76 and a beta of 1.59. Enphase Energy, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $130.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The business's 50-day moving average is $39.65 and its 200-day moving average is $50.59.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Equities research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

About Enphase Energy

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.

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