Federated Hermes Inc. Has $10.04 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Federated Hermes Inc. lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,664 shares of the semiconductor company’s stock after selling 12,787 shares during the period. Federated Hermes Inc. owned 0.07% of Enphase Energy worth $10,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC lifted its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC lifted its stake in shares of Enphase Energy by 2,733.3% in the 1st 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. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy in the 1st quarter valued at $35,000. TFO Wealth Partners LLC lifted its stake in shares of Enphase Energy by 6,720.0% in the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 336 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ENPH shares. William Blair started coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Piper Sandler lifted their target price 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. Royal Bank of Canada dropped their target price on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a report on Monday, June 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $118.53 on Wednesday. The firm has a market capitalization of $16.13 billion, a PE ratio of 61.73, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The firm has a 50-day moving average price of $112.41 and a 200 day moving average price of $114.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63.

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

Enphase Energy 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.