Lane Generational LLC cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 23.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,363 shares of the semiconductor company's stock after selling 15,481 shares during the quarter. Enphase Energy makes up approximately 3.4% of Lane Generational LLC's portfolio, making the stock its 13th largest holding. Lane Generational LLC's holdings in Enphase Energy were worth $3,125,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. CX Institutional acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $29,000. First Horizon Advisors Inc. raised its position in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after buying an additional 258 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $47,000. GeoWealth Management LLC raised its position in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after buying an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $69,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ENPH. Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $37.00 price objective (down previously from $64.00) on shares of Enphase Energy in a research report on Tuesday, July 15th. Susquehanna cut their price objective on shares of Enphase Energy from $51.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday, July 21st. Piper Sandler cut their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $32.00 target price (down from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Thirteen analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $55.86.
Check Out Our Latest Report on ENPH
Enphase Energy Stock Down 0.3%
Shares of Enphase Energy stock traded down $0.10 on Friday, hitting $35.41. 9,309,058 shares of the company's stock traded hands, compared to its average volume of 9,247,196. The stock has a market cap of $4.63 billion, a P/E ratio of 27.66 and a beta of 1.67. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average is $40.95 and its 200 day moving average is $52.08. Enphase Energy, Inc. has a 52-week low of $33.01 and a 52-week high of $130.08.
Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million during the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The business's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS. Equities analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.
Enphase Energy Profile
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Free Report)
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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