Mirae Asset Global Investments Co. Ltd. cut its position in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,789 shares of the semiconductor company’s stock after selling 11,006 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Enphase Energy were worth $25,728,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENPH. Resurgent Financial Advisors LLC bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $29,000. KB Financial Partners LLC bought a new stake in Enphase Energy during the 1st quarter valued at $28,000. Geneos Wealth Management Inc. raised its holdings in Enphase Energy by 1,400.0% during the second quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after buying an additional 140 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Enphase Energy by 278.0% in the second quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 114 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Enphase Energy during the fourth quarter valued at about $42,000. 71.05% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Enphase Energy from $170.00 to $167.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Daiwa Capital Markets downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $100.00 in a report on Tuesday, October 24th. TD Cowen dropped their price objective on Enphase Energy from $313.00 to $262.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. StockNews.com began coverage on shares of Enphase Energy in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $75.00 price objective (down from $150.00) on shares of Enphase Energy in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $179.79.
Enphase Energy Stock Up 6.1 %
ENPH opened at $98.50 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.36 and a quick ratio of 3.13. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $339.92. The firm has a market capitalization of $13.45 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.38 and a beta of 1.59. The company has a fifty day moving average price of $105.71 and a 200-day moving average price of $139.47.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its earnings results on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. Enphase Energy had a return on equity of 63.06% and a net margin of 21.08%. The business had revenue of $551.08 million for the quarter, compared to analyst estimates of $562.27 million. Equities research analysts expect that Enphase Energy, Inc. will post 3.34 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Thurman J. Rodgers purchased 32,600 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the acquisition, the director now directly owns 85,200 shares of the company’s stock, valued at $10,459,152. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Thurman J. Rodgers purchased 32,600 shares of the stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $122.76 per share, for a total transaction of $4,001,976.00. Following the completion of the transaction, the director now directly owns 85,200 shares of the company’s stock, valued at approximately $10,459,152. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $90.23 per share, with a total value of $100,877.14. Following the purchase, the chief executive officer now owns 1,272,015 shares of the company’s stock, valued at $114,773,913.45. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.
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 services.
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