Nisa Investment Advisors LLC Cuts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Nisa Investment Advisors LLC reduced its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,554 shares of the semiconductor company’s stock after selling 1,819 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Enphase Energy were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Manchester Capital Management LLC lifted its stake in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares during the period. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. lifted its position in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC purchased a new stake in Enphase Energy in the third quarter worth approximately $34,000. Finally, Quest Partners LLC grew its position in Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America raised their target price on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Wednesday, October 23rd. Piper Sandler dropped their price objective on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $89.94 on Wednesday. The company has a market cap of $12.15 billion, a P/E ratio of 204.41, a P/E/G ratio of 9.38 and a beta of 1.77. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The firm’s fifty day moving average is $104.19 and its two-hundred day moving average is $110.41.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period last year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, analysts anticipate 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.