Enphase Energy, Inc. (NASDAQ:ENPH) Stake Increased by National Bank of Canada FI

National Bank of Canada FI increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 30.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 42,459 shares of the semiconductor company’s stock after buying an additional 9,857 shares during the quarter. National Bank of Canada FI’s holdings in Enphase Energy were worth $4,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ENPH. SCP Investment LP purchased a new stake in shares of Enphase Energy during the fourth quarter worth $355,000. Principal Securities Inc. purchased a new stake in shares of Enphase Energy during the fourth quarter worth $62,000. Dimensional Fund Advisors LP raised its holdings in shares of Enphase Energy by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 483,991 shares of the semiconductor company’s stock worth $63,964,000 after acquiring an additional 18,468 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Enphase Energy by 7.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,707 shares of the semiconductor company’s stock worth $886,000 after acquiring an additional 476 shares in the last quarter. Finally, M&G Investment Management Ltd. raised its holdings in shares of Enphase Energy by 108.3% during the fourth quarter. M&G Investment Management Ltd. now owns 10,269 shares of the semiconductor company’s stock worth $1,356,000 after acquiring an additional 5,338 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ENPH shares. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Monday, June 10th. Royal Bank of Canada cut their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. William Blair began coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Morgan Stanley raised their target price on Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Finally, Bank of America cut their target price on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $128.89.

Enphase Energy Stock Performance

ENPH stock opened at $104.61 on Wednesday. The company has a 50 day moving average price of $111.62 and a 200 day moving average price of $115.07. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock has a market capitalization of $14.17 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.74 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the firm posted $1.16 EPS. Enphase Energy’s revenue was down 57.3% on a year-over-year basis. Analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Enphase Energy Company Profile

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.