Allspring Global Investments Holdings LLC Reduces Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Allspring Global Investments Holdings LLC lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,815 shares of the semiconductor company's stock after selling 4,544 shares during the period. Allspring Global Investments Holdings LLC's holdings in Enphase Energy were worth $772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after buying an additional 1,258,778 shares in the last quarter. Mizuho Securities USA LLC raised its stake in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock valued at $50,737,000 after buying an additional 438,424 shares during the period. Aspex Management HK Ltd acquired a new position in Enphase Energy in the 3rd quarter valued at $48,442,000. Montrusco Bolton Investments Inc. increased its holdings in Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company's stock valued at $99,295,000 after buying an additional 424,327 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock worth $31,830,000 after purchasing an additional 365,356 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ENPH. Oppenheimer increased their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Truist Financial restated a "hold" rating and set a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. OTR Global upgraded Enphase Energy from a "negative" rating to a "mixed" rating in a report on Friday, December 20th. BNP Paribas downgraded shares of Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 target price for the company. in a research note on Friday, November 8th. Finally, Guggenheim upgraded shares of Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 price target for the company in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $90.42.

Enphase Energy Price Performance

ENPH stock traded down $2.52 during trading on Thursday, hitting $61.19. The stock had a trading volume of 4,363,280 shares, compared to its average volume of 3,871,455. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company's 50-day moving average price is $66.32 and its two-hundred day moving average price is $84.22. The stock has a market capitalization of $8.11 billion, a P/E ratio of 82.69 and a beta of 1.68. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.