Abbrea Capital LLC Cuts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Abbrea Capital LLC decreased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 10.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,000 shares of the semiconductor company’s stock after selling 470 shares during the period. Abbrea Capital LLC’s holdings in Enphase Energy were worth $399,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. SCP Investment LP purchased a new stake in Enphase Energy during the 4th quarter valued at $355,000. Principal Securities Inc. purchased a new stake in Enphase Energy during the 4th quarter valued at $62,000. Dimensional Fund Advisors LP boosted its position in Enphase Energy by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 483,991 shares of the semiconductor company’s stock valued at $63,964,000 after buying an additional 18,468 shares during the period. Avantax Advisory Services Inc. boosted its position in Enphase Energy by 7.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,707 shares of the semiconductor company’s stock valued at $886,000 after buying an additional 476 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Enphase Energy by 20.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,968 shares of the semiconductor company’s stock valued at $921,000 after buying an additional 1,174 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 3.9 %

NASDAQ:ENPH opened at $109.91 on Friday. The firm has a 50-day simple moving average of $112.24 and a two-hundred day simple moving average of $114.90. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market cap of $14.88 billion, a P/E ratio of 57.24, a P/E/G ratio of 5.84 and a beta of 1.72. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue was down 57.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

ENPH has been the subject of several analyst reports. Barclays dropped their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. Piper Sandler upped their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Glj Research started coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective for the company. Finally, Guggenheim upped their price objective on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $128.89.

Insider Activity

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.40% of the company’s stock.

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.