Wilmington Savings Fund Society FSB Purchases Shares of 2,115 Enphase Energy, Inc. (NASDAQ:ENPH)

Wilmington Savings Fund Society FSB acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,115 shares of the semiconductor company’s stock, valued at approximately $239,000.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC grew its holdings 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 in the last quarter. Anomaly Capital Management LP acquired a new stake in Enphase Energy in the 2nd quarter valued at approximately $51,582,000. Mizuho Securities USA LLC lifted its stake in Enphase Energy by 4,177.9% in the 3rd 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 in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in Enphase Energy during the 3rd quarter worth approximately $48,442,000. 72.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Roth Mkm cut their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen lowered their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Piper Sandler lowered their price target on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. 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. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average price target of $100.33.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $73.40 on Wednesday. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The company’s 50 day moving average price is $78.05 and its two-hundred day moving average price is $100.91. The firm has a market cap of $9.92 billion, a PE ratio of 166.82, a PEG ratio of 22.03 and a beta of 1.69. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS 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 the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. Equities research analysts predict that Enphase Energy, Inc. will post 0.94 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.