Quintet Private Bank Europe S.A. Reduces Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Quintet Private Bank Europe S.A. trimmed its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,188 shares of the semiconductor company’s stock after selling 8,232 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Enphase Energy were worth $11,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENPH. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares during the period. Nordea Investment Management AB raised its stake in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares during the period. Mizuho Securities USA LLC lifted its holdings in 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 worth $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Aspex Management HK Ltd bought a new position in Enphase Energy in the 3rd quarter worth about $48,442,000. Finally, Montrusco Bolton Investments Inc. grew its holdings in Enphase Energy by 93.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after buying an additional 424,327 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Truist Financial reissued a “hold” rating and issued a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Piper Sandler decreased their price target on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Glj Research reissued a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Price Performance

ENPH opened at $57.33 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock’s 50 day simple moving average is $65.95 and its 200 day simple moving average is $83.31. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 77.47 and a beta of 1.68. Enphase Energy, Inc. has a 1 year low of $56.83 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.