Geode Capital Management LLC Has $381.03 Million Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Geode Capital Management LLC lifted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,382,316 shares of the semiconductor company’s stock after buying an additional 20,579 shares during the period. Geode Capital Management LLC owned about 2.50% of Enphase Energy worth $381,030,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after purchasing an additional 58,040 shares in the last quarter. Swedbank AB lifted 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 purchasing an additional 11,890 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after buying an additional 142,491 shares in the last quarter. Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Enphase Energy by 5.7% during the third quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company’s stock worth $117,168,000 after buying an additional 56,136 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Price Performance

ENPH stock opened at $73.84 on Friday. Enphase Energy, Inc. has a 1 year low of $58.33 and a 1 year high of $141.63. The stock has a market capitalization of $9.98 billion, a PE ratio of 167.82, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69. The company’s 50-day moving average is $78.75 and its 200-day moving average is $101.69. 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 announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (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 firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the previous year, the company posted $0.84 EPS. The firm’s revenue was down 30.9% on a year-over-year basis. Equities research analysts expect that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent research reports. Royal Bank of Canada cut their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a report on Friday, November 22nd. Raymond James cut their price target 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. Piper Sandler lowered their price objective on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $154.00 to $81.00 in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.13.

About Enphase Energy

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.