Guinness Asset Management LTD Sells 29,157 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Guinness Asset Management LTD cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 21.3% during the 4th quarter, Holdings Channel reports. The firm owned 107,739 shares of the semiconductor company’s stock after selling 29,157 shares during the period. Guinness Asset Management LTD’s holdings in Enphase Energy were worth $7,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB lifted its stake in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after acquiring an additional 1,258,778 shares during the period. Electron Capital Partners LLC raised its holdings in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP purchased a new stake in shares of Enphase Energy in the 2nd quarter worth about $51,582,000. Mizuho Securities USA LLC boosted its stake in shares of Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Finally, Aspex Management HK Ltd purchased a new position in shares of Enphase Energy during the third quarter valued at about $48,442,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $63.69 on Monday. The stock has a market cap of $8.61 billion, a PE ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. Enphase Energy, Inc. has a 1 year low of $58.33 and a 1 year high of $141.63. The firm has a fifty day moving average price of $69.22 and a 200-day moving average price of $92.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. Equities analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on ENPH shares. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Truist Financial restated a “hold” rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday. Citigroup upped their price target on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Northland Securities lowered their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.59.

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.