Addison Advisors LLC Lowers Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Addison Advisors LLC decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 77.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 327 shares of the semiconductor company’s stock after selling 1,094 shares during the quarter. Addison Advisors LLC’s holdings in Enphase Energy were worth $33,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position in shares of Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC increased its position in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $35,000. TFO Wealth Partners LLC lifted its holdings in shares of Enphase Energy by 6,720.0% in the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after acquiring an additional 336 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Enphase Energy by 50.9% during the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.40% of the company’s stock.

Enphase Energy Trading Down 3.1 %

Shares of NASDAQ:ENPH opened at $108.65 on Friday. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The company’s 50 day moving average is $111.33 and its two-hundred day moving average is $115.47. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.78 billion, a PE ratio of 56.59, a P/E/G ratio of 6.22 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s quarterly revenue was down 57.3% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. Equities analysts predict that Enphase Energy, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ENPH shares. Piper Sandler boosted their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. HSBC raised Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research note on Monday, June 10th. Glj Research initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets lifted their price objective on shares of Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $128.89.

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.