abrdn plc Acquires 154,231 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

abrdn plc raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 37.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 571,481 shares of the semiconductor company’s stock after buying an additional 154,231 shares during the quarter. abrdn plc owned about 0.42% of Enphase Energy worth $64,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ENPH. Manchester Capital Management LLC lifted its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its stake in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. lifted its holdings in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy during the third quarter worth about $34,000. Finally, Quest Partners LLC grew its holdings in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after buying an additional 461 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James cut their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen cut their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $83.07 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 43.27, a P/E/G ratio of 8.07 and a beta of 1.72. The stock’s fifty day moving average price is $107.06 and its two-hundred day moving average price is $111.17. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue was down 30.9% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy, Inc. will post 1.18 EPS for the current year.

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.