Enphase Energy, Inc. (NASDAQ:ENPH) Shares Acquired by M&T Bank Corp

M&T Bank Corp grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,907 shares of the semiconductor company’s stock after acquiring an additional 726 shares during the quarter. M&T Bank Corp’s holdings in Enphase Energy were worth $2,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENPH. Assenagon Asset Management S.A. grew its position in Enphase Energy by 51.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,791 shares of the semiconductor company’s stock worth $10,150,000 after purchasing an additional 34,401 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Enphase Energy during the second quarter worth $3,197,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Enphase Energy by 409.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 18,792 shares of the semiconductor company’s stock valued at $1,962,000 after buying an additional 15,101 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Enphase Energy in the 2nd quarter valued at $788,000. Finally, Canton Hathaway LLC raised its stake in Enphase Energy by 32.7% in the 2nd quarter. Canton Hathaway LLC now owns 2,031 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 500 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ENPH. JPMorgan Chase & Co. cut their price objective on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Piper Sandler cut their price target on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Evercore ISI decreased their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Cowen cut their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Barclays decreased their target price on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.13.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $73.84 on Friday. The company has a market cap of $9.98 billion, a P/E ratio of 167.82, a P/E/G ratio of 22.03 and a beta of 1.69. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company’s 50-day moving average price is $78.75 and its 200-day moving average price is $101.50. 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) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 0.94 earnings per share for the current fiscal 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.