Federated Hermes Inc. Boosts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Federated Hermes Inc. increased its stake in Enphase Energy by 18.2%, owning 405,149 shares valued at approximately $25.1 million as of the latest SEC filing.
• Several other institutional investors, including Baillie Gifford and Invesco, have also significantly raised their positions in Enphase Energy during recent quarters.
• Enphase Energy reported better-than-expected quarterly earnings, with an EPS of $0.69, exceeding analysts' expectations of $0.62, and a revenue increase of 19.7% year-over-year.

Federated Hermes Inc. boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 18.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 405,149 shares of the semiconductor company's stock after acquiring an additional 62,382 shares during the quarter. Federated Hermes Inc. owned 0.31% of Enphase Energy worth $25,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ENPH. Baillie Gifford & Co. lifted its stake in Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock worth $685,799,000 after purchasing an additional 2,680,567 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock valued at $55,342,000 after buying an additional 678,163 shares in the last quarter. Norges Bank bought a new stake in Enphase Energy in the 4th quarter worth approximately $46,339,000. Finally, Alyeska Investment Group L.P. boosted its stake in Enphase Energy by 62.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company's stock worth $92,652,000 after buying an additional 517,989 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $32.36 on Friday. The company's fifty day moving average price is $39.97 and its 200-day moving average price is $51.24. The stock has a market cap of $4.23 billion, a PE ratio of 25.28 and a beta of 1.67. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. Enphase Energy, Inc. has a 12 month low of $31.98 and a 12 month high of $130.08.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Oppenheimer reduced their price target on shares of Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Glj Research reduced their target price on shares of Enphase Energy from $31.11 to $19.80 and set a "sell" rating on the stock in a report on Tuesday, July 22nd. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target for the company. in a research note on Tuesday, May 13th. Royal Bank Of Canada set a $28.00 price target on shares of Enphase Energy and gave the company a "sector perform" rating in a research report on Wednesday, June 18th. Finally, Susquehanna decreased their price objective on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. Thirteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $55.51.

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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