Mizuho Markets Americas LLC Invests $5.91 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Mizuho Markets Americas LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 52,322 shares of the semiconductor company’s stock, valued at approximately $5,913,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Enphase Energy in the 1st quarter valued at about $424,130,000. Baillie Gifford & Co. raised its stake in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its position in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP purchased a new position in Enphase Energy in the 2nd quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Enphase Energy in the 1st quarter worth $59,128,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENPH has been the subject of several research reports. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Barclays dropped their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Craig Hallum reduced their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Citigroup dropped their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Truist Financial reduced their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Four 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 stock has an average rating of “Hold” and a consensus price target of $102.76.

Enphase Energy Price Performance

ENPH stock opened at $59.52 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The firm has a 50 day moving average price of $95.27 and a 200-day moving average price of $107.75. Enphase Energy, Inc. has a 52-week low of $59.12 and a 52-week high of $141.63. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company 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 firm posted $0.84 EPS. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. Equities research analysts forecast that Enphase Energy, Inc. will post 0.92 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.