Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,829 shares of the semiconductor company’s stock after selling 89 shares during the period. Cim Investment Management Inc.’s holdings in Enphase Energy were worth $880,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of Enphase Energy in the 1st quarter valued at $424,130,000. Baillie Gifford & Co. boosted its stake in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP purchased a new position in shares of Enphase Energy during the second quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy during the first quarter worth about $59,128,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research analyst reports. William Blair initiated coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their price target on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada decreased their price objective on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Roth Mkm reissued a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a report on Wednesday, July 24th. Finally, Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Four 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $128.89.

Enphase Energy Price Performance

Enphase Energy stock opened at $115.00 on Friday. The firm has a market capitalization of $15.65 billion, a PE ratio of 59.90, a P/E/G ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The firm’s 50-day simple moving average is $113.43 and its 200 day simple moving average is $114.19. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

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