DNB Asset Management AS boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 40.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,462 shares of the semiconductor company’s stock after purchasing an additional 84,931 shares during the quarter. DNB Asset Management AS owned approximately 0.22% of Enphase Energy worth $49,819,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina grew its position in shares of Enphase Energy by 7.4% during the 1st quarter. Treasurer of the State of North Carolina now owns 64,267 shares of the semiconductor company’s stock valued at $13,514,000 after buying an additional 4,420 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Enphase Energy during the first quarter valued at approximately $37,000. Viking Fund Management LLC raised its position in shares of Enphase Energy by 100.0% during the 1st quarter. Viking Fund Management LLC now owns 8,000 shares of the semiconductor company’s stock worth $1,682,000 after purchasing an additional 4,000 shares during the period. Wedbush Securities Inc. bought a new stake in shares of Enphase Energy in the 1st quarter worth approximately $434,000. Finally, Arosa Capital Management LP grew its stake in Enphase Energy by 30.0% during the 4th quarter. Arosa Capital Management LP now owns 19,500 shares of the semiconductor company’s stock worth $5,167,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 71.05% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. KeyCorp cut their target price on Enphase Energy from $267.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 17th. Wolfe Research downgraded shares of Enphase Energy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 20th. Piper Sandler decreased their target price on shares of Enphase Energy from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, July 28th. Citigroup cut their price target on Enphase Energy from $209.00 to $170.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial downgraded Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $135.00 in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Moderate Buy” and an average price target of $234.17.
Insider Buying and Selling
In other Enphase Energy news, Director Thurman J. Rodgers bought 32,600 shares of the stock in a transaction on Thursday, September 14th. The shares were bought at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the purchase, the director now directly owns 85,200 shares in the company, valued at approximately $10,459,152. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.20% of the company’s stock.
Enphase Energy Stock Up 1.5 %
Shares of NASDAQ:ENPH opened at $123.97 on Thursday. Enphase Energy, Inc. has a 52 week low of $116.86 and a 52 week high of $339.92. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.22 and a current ratio of 3.44. The company has a market cap of $16.90 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The firm has a 50 day simple moving average of $141.27 and a 200 day simple moving average of $168.98.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, research analysts expect that Enphase Energy, Inc. will post 3.76 earnings per share for the current 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 services.
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