KBC Group NV Acquires 11,578 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

KBC Group NV raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,583 shares of the semiconductor company’s stock after buying an additional 11,578 shares during the period. KBC Group NV owned about 0.09% of Enphase Energy worth $14,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. increased its stake in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new position in shares of Enphase Energy in the third quarter worth approximately $34,000. Blue Trust Inc. increased its stake in shares of Enphase Energy by 109.1% in the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after buying an additional 228 shares during the period. Quest Partners LLC raised its holdings in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in Enphase Energy by 1,727.6% in the 2nd quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 501 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ENPH shares. Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Craig Hallum lowered their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Truist Financial cut their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley decreased their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.76.

Enphase Energy Trading Down 6.4 %

Enphase Energy stock opened at $59.52 on Friday. Enphase Energy, Inc. has a one year low of $59.12 and a one year high of $141.63. The business’s fifty day moving average is $95.27 and its 200 day moving average is $107.76. The stock has a market capitalization of $8.04 billion, a PE ratio of 135.27, a price-to-earnings-growth ratio of 6.80 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last announced 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 analysts’ expectations of $392.51 million. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue was down 30.9% compared to the same quarter last year. On average, sell-side analysts predict that Enphase Energy, Inc. will post 0.92 EPS for the current 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.