PNC Financial Services Group Inc. Has $1.82 Million Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

PNC Financial Services Group Inc. lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,085 shares of the semiconductor company’s stock after buying an additional 1,757 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $1,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENPH. Harbor Capital Advisors Inc. acquired a new stake in shares of Enphase Energy during the 3rd quarter worth $1,273,000. Mizuho Securities USA LLC grew its stake in Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after buying an additional 438,424 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the period. Swedbank AB raised its position in shares of 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 buying an additional 11,890 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Enphase Energy by 10.0% during the 3rd quarter. KBC Group NV now owns 127,583 shares of the semiconductor company’s stock worth $14,420,000 after acquiring an additional 11,578 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Down 2.0 %

Shares of NASDAQ ENPH opened at $70.50 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The company has a 50-day moving average price of $90.14 and a 200-day moving average price of $105.77. The stock has a market capitalization of $9.53 billion, a P/E ratio of 160.23, a P/E/G ratio of 20.32 and a beta of 1.77. Enphase Energy, Inc. has a 1 year low of $58.33 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the firm posted $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENPH has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI lowered their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group lowered Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Craig Hallum dropped their target price on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Piper Sandler decreased their price target on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.13.

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.