Great Valley Advisor Group Inc. Acquires 2,897 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Great Valley Advisor Group Inc. lifted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,179 shares of the semiconductor company’s stock after purchasing an additional 2,897 shares during the period. Great Valley Advisor Group Inc.’s holdings in Enphase Energy were worth $2,394,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ENPH. Harbor Capital Advisors Inc. bought a new position in Enphase Energy during the third quarter valued at about $1,273,000. Mizuho Securities USA LLC increased its stake in Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares during the period. Impax Asset Management Group plc increased its stake in Enphase Energy by 15.9% during the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares during the period. Swedbank AB increased its stake in Enphase Energy by 0.3% during the third 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. Finally, KBC Group NV increased its stake in Enphase Energy by 10.0% during the third quarter. KBC Group NV now owns 127,583 shares of the semiconductor company’s stock valued at $14,420,000 after acquiring an additional 11,578 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI decreased their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Barclays decreased their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Raymond James decreased their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, HSBC downgraded Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $154.00 to $81.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.13.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $66.29 on Monday. The firm has a fifty day moving average of $90.93 and a two-hundred day moving average of $106.04. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 150.66, a PEG ratio of 19.49 and a beta of 1.77. Enphase Energy, Inc. has a 52 week low of $58.33 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.

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). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate 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 was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts predict that Enphase Energy, Inc. will post 0.91 EPS 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.