M&G Plc Has $6.06 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

M&G Plc reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,582 shares of the semiconductor company’s stock after selling 6,450 shares during the quarter. M&G Plc’s holdings in Enphase Energy were worth $6,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ENPH. Norden Group LLC bought a new stake in Enphase Energy in the 1st quarter valued at about $209,000. Texas Permanent School Fund Corp grew its position in Enphase Energy by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 28,065 shares of the semiconductor company’s stock worth $3,395,000 after buying an additional 452 shares in the last quarter. Empirical Finance LLC increased its stake in Enphase Energy by 4.6% during the 1st quarter. Empirical Finance LLC now owns 3,787 shares of the semiconductor company’s stock worth $458,000 after acquiring an additional 166 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Enphase Energy by 11.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,959 shares of the semiconductor company’s stock valued at $2,536,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Enphase Energy by 35.8% during the 1st quarter. Forsta AP Fonden now owns 50,400 shares of the semiconductor company’s stock valued at $6,097,000 after acquiring an additional 13,300 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Stock Performance

Shares of ENPH opened at $66.90 on Friday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm’s fifty day simple moving average is $100.48 and its two-hundred day simple moving average is $109.48. Enphase Energy, Inc. has a 12 month low of $65.66 and a 12 month high of $141.63. The stock has a market capitalization of $9.04 billion, a P/E ratio of 152.05, a price-to-earnings-growth ratio of 9.82 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last released 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 analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. As a group, analysts predict that Enphase Energy, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

ENPH has been the subject of a number of analyst reports. Susquehanna dropped their price target on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Piper Sandler cut their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Craig Hallum reduced their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI lowered their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $104.03.

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.