Point72 Europe London LLP Acquires Shares of 72,774 Enphase Energy, Inc. (NASDAQ:ENPH)

Point72 Europe London LLP bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, HoldingsChannel.com reports. The fund bought 72,774 shares of the semiconductor company’s stock, valued at approximately $7,256,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Enphase Energy during the second quarter valued at approximately $391,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Enphase Energy by 59.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,002 shares of the semiconductor company’s stock valued at $2,593,000 after purchasing an additional 9,698 shares during the last quarter. Appian Way Asset Management LP bought a new stake in shares of Enphase Energy in the 2nd quarter worth $1,007,000. Point72 DIFC Ltd purchased a new position in shares of Enphase Energy in the second quarter worth $324,000. Finally, Marshall Wace LLP lifted its holdings in shares of Enphase Energy by 323.8% during the second quarter. Marshall Wace LLP now owns 127,388 shares of the semiconductor company’s stock valued at $12,702,000 after purchasing an additional 97,326 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $116.69 on Wednesday. The stock has a market cap of $15.80 billion, a PE ratio of 60.78, a P/E/G ratio of 6.19 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’s 50-day simple moving average is $113.08 and its two-hundred day simple moving average is $114.30. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the prior year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ENPH. Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price for the company. Canaccord Genuity Group decreased their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets raised their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $115.00 price target (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $128.89.

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.