M&G Plc Sells 6,450 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

M&G Plc reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,582 shares of the semiconductor company’s stock after selling 6,450 shares during the quarter. M&G Plc’s holdings in Enphase Energy were worth $6,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ENPH. Chilton Capital Management LLC raised its stake in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. UMB Bank n.a. raised its position in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Enphase Energy in the 3rd quarter worth $34,000. Blue Trust Inc. grew its stake in shares of Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 228 shares during the period. Finally, Quest Partners LLC increased its holdings in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Trading Down 6.6 %

Shares of NASDAQ:ENPH opened at $66.90 on Friday. Enphase Energy, Inc. has a 52-week low of $65.66 and a 52-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 company has a market capitalization of $9.04 billion, a P/E ratio of 152.05, a price-to-earnings-growth ratio of 9.82 and a beta of 1.77. The company has a 50-day simple moving average of $100.48 and a 200 day simple moving average of $109.48.

Enphase Energy (NASDAQ:ENPH) last issued its 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 return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The business’s revenue was down 30.9% compared to the same quarter last year. Sell-side analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Janney Montgomery Scott lowered Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Friday. Finally, Susquehanna dropped their price objective on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $104.03.

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.