First Citizens Bank & Trust Co. Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

First Citizens Bank & Trust Co. lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 42.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,406 shares of the semiconductor company's stock after selling 13,652 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Enphase Energy were worth $2,080,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB lifted its holdings 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 valued at $391,442,000 after purchasing an additional 11,890 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock valued at $10,658,000 after acquiring an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company's stock valued at $13,147,000 after acquiring an additional 85,284 shares in the last quarter. Doheny Asset Management CA purchased a new position in Enphase Energy during the 2nd quarter worth $8,095,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Enphase Energy by 54.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company's stock worth $4,438,000 after acquiring an additional 15,776 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Analyst Ratings Changes

ENPH has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the company an "underperform" rating in a research report on Thursday, October 10th. William Blair initiated coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a "market perform" rating on the stock. BNP Paribas raised Enphase Energy from a "neutral" rating to an "outperform" rating and upped their target price for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Piper Sandler dropped their price target on Enphase Energy from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $122.33.

Enphase Energy Price Performance

Shares of ENPH stock traded up $0.07 on Friday, reaching $91.64. The company's stock had a trading volume of 2,818,032 shares, compared to its average volume of 3,714,892. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The stock's 50 day simple moving average is $111.25 and its 200-day simple moving average is $112.86. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $12.47 billion, a P/E ratio of 47.73, a PEG ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results 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). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to analysts' expectations of $309.73 million. During the same period in the previous year, the business earned $1.16 EPS. The business's revenue was down 57.3% on a year-over-year basis. As a group, equities analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share 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.