Eastern Bank Grows Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Eastern Bank raised its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 29.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,225 shares of the semiconductor company’s stock after buying an additional 2,800 shares during the period. Eastern Bank’s holdings in Enphase Energy were worth $840,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy during the 3rd quarter valued at about $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quarry LP purchased a new position in shares of Enphase Energy in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several recent analyst reports. Craig Hallum cut their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Truist Financial cut their price target on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $154.00 to $81.00 in a research note on Friday, November 8th. Finally, Barclays lowered their price objective on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $97.86.

Enphase Energy Stock Up 0.2 %

Shares of NASDAQ ENPH opened at $66.87 on Tuesday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 151.98, a PEG ratio of 21.92 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The business’s 50 day moving average is $70.53 and its two-hundred day moving average is $94.11.

Enphase Energy (NASDAQ:ENPH) last announced its 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). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Research analysts predict that Enphase Energy, Inc. will post 0.94 EPS for the current 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.