Assenagon Asset Management S.A. Raises Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Assenagon Asset Management S.A. lifted its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 372.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,452 shares of the semiconductor company's stock after buying an additional 365,356 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of Enphase Energy worth $31,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. lifted its stake in shares of Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company's stock worth $716,897,000 after acquiring an additional 58,040 shares during the period. Swedbank AB boosted its position in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after acquiring an additional 11,890 shares during the last quarter. Geode Capital Management LLC grew its holdings in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock valued at $381,030,000 after purchasing an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company's stock worth $265,609,000 after purchasing an additional 142,491 shares during the period. Finally, Nordea Investment Management AB boosted 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 valued at $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Analysts Set New Price Targets

ENPH has been the subject of several research analyst reports. TD Cowen dropped their price target on Enphase Energy from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. OTR Global raised shares of Enphase Energy from a "negative" rating to a "mixed" rating in a research note on Friday, December 20th. Canaccord Genuity Group cut shares of Enphase Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Morgan Stanley cut their price objective on Enphase Energy from $93.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler lowered their target price on Enphase Energy from $85.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $95.59.

Enphase Energy Trading Up 0.3 %

Shares of ENPH stock traded up $0.22 during trading hours on Friday, reaching $63.69. 3,116,627 shares of the stock were exchanged, compared to its average volume of 3,142,698. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The company's 50-day moving average price is $69.29 and its 200-day moving average price is $93.19. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to analysts' expectations of $392.51 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company's revenue for the quarter was down 30.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current 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.