Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,789 shares of the semiconductor company’s stock after selling 11,006 shares during the quarter. 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.
Several other large investors also recently made changes to their positions in ENPH. Resurgent Financial Advisors LLC acquired a new stake in Enphase Energy in the fourth quarter valued at approximately $29,000. KB Financial Partners LLC acquired a new stake in Enphase Energy in the 1st quarter valued at $28,000. Geneos Wealth Management Inc. increased its stake in Enphase Energy by 1,400.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Enphase Energy by 278.0% during the second quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock worth $26,000 after buying an additional 114 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Enphase Energy in the fourth quarter valued at $42,000. 71.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ENPH has been the subject of several recent research reports. KeyCorp decreased their target price on shares of Enphase Energy from $200.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, October 5th. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Friday, October 27th. Susquehanna lowered their price target on Enphase Energy from $200.00 to $175.00 and set a “positive” rating for the company in a research report on Monday, October 2nd. Truist Financial reiterated a “hold” rating and issued a $135.00 target price on shares of Enphase Energy in a research note on Wednesday, October 4th. Finally, TheStreet cut shares of Enphase Energy from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. 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.
Insider Buying and Selling at Enphase Energy
In other Enphase Energy news, Director Thurman J. Rodgers acquired 32,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the completion of the acquisition, the director now owns 85,200 shares of the company’s stock, valued at $10,459,152. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Thurman J. Rodgers bought 32,600 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $122.76 per share, for a total transaction of $4,001,976.00. Following the completion of the acquisition, the director now owns 85,200 shares in the company, valued at approximately $10,459,152. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman bought 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the completion of the purchase, the chief executive officer now directly owns 1,272,015 shares of the company’s stock, valued at approximately $114,773,913.45. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.
Enphase Energy Price Performance
Shares of NASDAQ:ENPH opened at $98.50 on Tuesday. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $339.92. The company has a current ratio of 3.36, a quick ratio of 3.13 and a debt-to-equity ratio of 1.18. The stock has a market cap of $13.45 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.38 and a beta of 1.59. The company has a 50 day moving average of $105.71 and a 200 day moving average of $139.47.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.13. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $562.27 million. Enphase Energy had a net margin of 21.08% and a return on equity of 63.06%. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 3.34 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 services.
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