APG Asset Management N.V. Has $34.42 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

APG Asset Management N.V. lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,984 shares of the semiconductor company’s stock after selling 16,740 shares during the quarter. APG Asset Management N.V. owned approximately 0.27% of Enphase Energy worth $34,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ENPH. Swedbank AB acquired a new stake in Enphase Energy in the first quarter valued at $424,130,000. Baillie Gifford & Co. lifted its stake in Enphase Energy by 57.9% in the 2nd 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 during the last quarter. Anomaly Capital Management LP bought a new position in Enphase Energy during the second quarter worth about $51,582,000. Canada Pension Plan Investment Board acquired a new position in Enphase Energy during the first quarter worth approximately $59,128,000. Finally, Robeco Schweiz AG bought a new stake in Enphase Energy in the second quarter valued at approximately $31,249,000. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America decreased 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. Canaccord Genuity Group decreased their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Canaccord Genuity Group cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research note on Monday, June 10th. Finally, Piper Sandler raised their price objective on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $115.00 on Friday. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market cap 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 firm has a 50 day simple moving average of $113.43 and a 200 day simple moving average of $114.19.

Enphase Energy (NASDAQ:ENPH) last announced 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). The firm had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share. Research analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Enphase Energy 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.