Vancity Investment Management Ltd Has $9.87 Million Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Posted by Defense World Staff on Sep 9th, 2023

Vancity Investment Management Ltd raised its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 9.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 46,936 shares of the semiconductor company’s stock after purchasing an additional 4,077 shares during the quarter. Enphase Energy makes up approximately 1.4% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 28th largest holding. Vancity Investment Management Ltd’s holdings in Enphase Energy were worth $9,870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Enphase Energy by 167.8% during the 1st quarter. Renaissance Technologies LLC now owns 943,428 shares of the semiconductor company’s stock worth $198,384,000 after buying an additional 591,200 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Enphase Energy by 4.4% during the 1st quarter. Gabelli Funds LLC now owns 21,240 shares of the semiconductor company’s stock worth $4,466,000 after buying an additional 900 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Enphase Energy by 161.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 205,692 shares of the semiconductor company’s stock worth $43,253,000 after buying an additional 126,984 shares in the last quarter. Financial Architects Inc bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $349,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Enphase Energy by 3.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 81,642 shares of the semiconductor company’s stock worth $17,186,000 after buying an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of research analyst reports. Wolfe Research cut Enphase Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 20th. Morgan Stanley cut their target price on Enphase Energy from $234.00 to $159.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company cut Enphase Energy from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $230.00 to $171.00 in a report on Friday, July 28th. JPMorgan Chase & Co. cut their target price on Enphase Energy from $224.00 to $199.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. Finally, Northland Securities cut their target price on Enphase Energy from $300.00 to $235.00 in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has an average rating of “Moderate Buy” and a consensus target price of $239.14.

View Our Latest Analysis on ENPH

Enphase Energy Trading Down 1.6 %

Shares of Enphase Energy stock opened at $120.23 on Friday. The stock has a fifty day moving average price of $149.13 and a 200-day moving average price of $174.06. Enphase Energy, Inc. has a 1 year low of $118.14 and a 1 year high of $339.92. The firm has a market cap of $16.39 billion, a PE ratio of 30.28, a P/E/G ratio of 1.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.44 and a quick ratio of 3.22.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.21. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. The company had revenue of $711.12 million during the quarter, compared to analyst estimates of $726.94 million. Equities research analysts anticipate that Enphase Energy, Inc. will post 3.77 EPS for the current year.

Enphase Energy Company Profile

(Free Report)

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 services.