Rhumbline Advisers lifted its holdings in Enphase Energy Inc (NASDAQ:ENPH) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 126,607 shares of the semiconductor company’s stock after acquiring an additional 472 shares during the quarter. Rhumbline Advisers owned 0.10% of Enphase Energy worth $2,814,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Enphase Energy by 16.2% in the 2nd quarter. BlackRock Inc. now owns 6,678,030 shares of the semiconductor company’s stock worth $121,742,000 after acquiring an additional 930,501 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Enphase Energy by 11.5% in the second quarter. Vanguard Group Inc. now owns 5,274,251 shares of the semiconductor company’s stock worth $96,149,000 after buying an additional 544,989 shares during the period. Invesco Ltd. increased its stake in shares of Enphase Energy by 2.5% in the second quarter. Invesco Ltd. now owns 2,266,030 shares of the semiconductor company’s stock worth $41,310,000 after buying an additional 56,335 shares during the period. Renaissance Technologies LLC increased its stake in shares of Enphase Energy by 387.7% in the second quarter. Renaissance Technologies LLC now owns 1,270,628 shares of the semiconductor company’s stock worth $23,164,000 after buying an additional 1,010,100 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in shares of Enphase Energy in the second quarter worth $18,900,000. Hedge funds and other institutional investors own 43.41% of the company’s stock.
Several brokerages recently commented on ENPH. Craig Hallum set a $31.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, July 31st. HC Wainwright raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. began coverage on shares of Enphase Energy in a research note on Monday, September 16th. They issued an “overweight” rating and a $32.00 target price on the stock. BidaskClub raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Oppenheimer lifted their target price on shares of Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $34.59.
Enphase Energy stock traded up $0.37 during mid-day trading on Tuesday, reaching $19.11. 87,885 shares of the company traded hands, compared to its average volume of 6,513,530. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.67 and a quick ratio of 2.46. The firm’s 50 day moving average price is $22.77 and its 200 day moving average price is $21.42. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -159.25 and a beta of 0.83. Enphase Energy Inc has a 52-week low of $4.53 and a 52-week high of $35.42.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The business had revenue of $180.06 million for the quarter, compared to the consensus estimate of $176.49 million. Enphase Energy had a net margin of 8.92% and a return on equity of 62.77%. The company’s quarterly revenue was up 130.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. On average, sell-side analysts anticipate that Enphase Energy Inc will post 0.61 EPS for the current year.
In other news, CAO Mandy Yang sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $19.07, for a total value of $190,700.00. Following the sale, the chief accounting officer now directly owns 164,257 shares of the company’s stock, valued at approximately $3,132,380.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeff Mcneil sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $24.03, for a total transaction of $180,225.00. Following the completion of the sale, the chief operating officer now directly owns 312,738 shares in the company, valued at $7,515,094.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,000 shares of company stock worth $3,967,725. Insiders own 12.46% of the company’s stock.
Enphase Energy Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
Featured Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?
Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy Inc (NASDAQ:ENPH).
Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.