Wealth Enhancement Advisory Services LLC Raises Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Wealth Enhancement Advisory Services LLC increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 19.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 7,111 shares of the semiconductor company’s stock after buying an additional 1,156 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enphase Energy were worth $804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB raised its stake in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares during the period. International Assets Investment Management LLC bought a new stake in Enphase Energy in the 3rd quarter valued at about $6,387,000. DekaBank Deutsche Girozentrale raised its stake in Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after acquiring an additional 29,013 shares during the period. Envestnet Asset Management Inc. raised its stake in Enphase Energy by 54.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after acquiring an additional 15,776 shares during the period. Finally, Doheny Asset Management CA bought a new stake in Enphase Energy in the 2nd quarter valued at about $8,095,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENPH. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Northland Securities decreased their price target on Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their price target on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $74.81 on Thursday. The firm has a market cap of $10.11 billion, a PE ratio of 170.02, a price-to-earnings-growth ratio of 9.38 and a beta of 1.77. Enphase Energy, Inc. has a fifty-two week low of $71.38 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The business has a 50 day moving average price of $102.56 and a 200-day moving average price of $110.05.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

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.