Dimensional Fund Advisors LP Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Dimensional Fund Advisors LP grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 491,113 shares of the semiconductor company’s stock after acquiring an additional 6,804 shares during the period. Dimensional Fund Advisors LP owned 0.36% of Enphase Energy worth $48,990,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Swedbank AB purchased a new stake in Enphase Energy during the first quarter valued at about $424,130,000. Northern Trust Corp raised its position in Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Enphase Energy by 11.1% during the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after purchasing an additional 90,558 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 1.2 %

ENPH opened at $115.00 on Monday. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 59.90, a PEG ratio of 6.19 and a beta of 1.72. The company has a fifty day moving average of $113.43 and a two-hundred day moving average of $114.12. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. 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 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). The company had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. On average, research analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ENPH shares. Piper Sandler raised their price objective on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. BMO Capital Markets raised their price objective on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $128.89.

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.