Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 40.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,063 shares of the semiconductor company’s stock after selling 35,185 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Enphase Energy were worth $5,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENPH. Swedbank AB acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares during the period. Norges Bank acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $149,425,000. Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $59,128,000. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $41,068,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENPH. BMO Capital Markets raised their target price on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. William Blair began coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Guggenheim raised their target price on Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group lowered their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Stock Performance

ENPH opened at $109.91 on Friday. The firm has a market cap of $14.88 billion, a PE ratio of 57.24, a P/E/G ratio of 5.84 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $112.24 and a 200-day simple moving average of $114.90. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue was down 57.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. As a group, equities analysts predict that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value 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 $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by insiders.

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.