abrdn plc Sells 2,584 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

abrdn plc cut its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568,897 shares of the semiconductor company’s stock after selling 2,584 shares during the quarter. abrdn plc owned about 0.42% of Enphase Energy worth $39,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its holdings in 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 acquiring an additional 58,040 shares in the last quarter. Swedbank AB raised its holdings 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 acquiring an additional 11,890 shares in the last quarter. Geode Capital Management LLC raised its holdings in Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Enphase Energy by 6.5% in the 3rd 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 acquiring an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Enphase Energy by 131.6% in 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 acquiring an additional 1,258,778 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Janney Montgomery Scott downgraded Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Wednesday, October 23rd. Hsbc Global Res downgraded Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Royal Bank of Canada dropped their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Finally, TD Cowen dropped their price objective on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.79.

Enphase Energy Stock Down 1.5 %

ENPH stock opened at $65.26 on Thursday. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock’s 50 day moving average is $68.88 and its 200-day moving average is $88.95. The firm has a market capitalization of $8.82 billion, a PE ratio of 148.32, a P/E/G ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Sell-side analysts expect that Enphase Energy, Inc. will post 0.92 EPS for the current fiscal 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.