Why Enphase Energy (ENPH) Stock Is Diving

Enphase Energy Inc ENPH shares are trading lower by 4.92% to $176.37 Thursday afternoon. Shares of several semiconductor companies are trading lower in sympathy with Taiwan Semiconductor, which issued weak third-quarter and 2023 guidance.

Enphase Energy is a solar energy solutions provider that manufactures microinverters and energy storage systems. If TSM, a major semiconductor manufacturer, reports weaker-than-expected earnings, it may indicate potential constraints in the semiconductor industry.

This could affect Enphase Energy's ability to source necessary components for its products, leading to production delays or increased costs, which might negatively impact the company's financial performance and stock price.

According to data from Benzinga Pro, Enphase Energy has a 52-week high of $339.92 and a 52-week low of $152.15.