First American Trust FSB bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,575 shares of the semiconductor company’s stock, valued at approximately $2,273,000.
Other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in shares of Enphase Energy by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock worth $1,603,000 after acquiring an additional 48 shares in the last quarter. Ronald Blue Trust Inc. raised its stake in Enphase Energy by 29.7% during the 1st quarter. Ronald Blue Trust Inc. now owns 214 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 49 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Enphase Energy by 1.5% in the first quarter. ETF Managers Group LLC now owns 3,577 shares of the semiconductor company’s stock valued at $752,000 after purchasing an additional 53 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Enphase Energy by 2.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,140 shares of the semiconductor company’s stock worth $567,000 after buying an additional 57 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Enphase Energy by 6.5% during the second quarter. ICICI Prudential Asset Management Co Ltd now owns 931 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 71.05% of the company’s stock.
Insider Transactions at Enphase Energy
In other news, Director Thurman J. Rodgers bought 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost of $122.76 per share, with a total value of $4,001,976.00. Following the completion of the transaction, the director now directly owns 85,200 shares in the company, valued at $10,459,152. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.80% of the company’s stock.
Enphase Energy Stock Performance
Shares of ENPH stock traded up $3.15 during trading hours on Friday, reaching $119.16. 3,385,264 shares of the company’s stock were exchanged, compared to its average volume of 3,616,592. Enphase Energy, Inc. has a fifty-two week low of $111.44 and a fifty-two week high of $339.92. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $16.25 billion, a P/E ratio of 30.02, a P/E/G ratio of 1.59 and a beta of 1.53. The business has a fifty day moving average price of $127.34 and a 200-day moving average price of $161.42.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.21. Enphase Energy had a net margin of 20.48% and a return on equity of 71.20%. The business had revenue of $711.12 million for the quarter, compared to analyst estimates of $726.94 million. Analysts predict that Enphase Energy, Inc. will post 3.72 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Citigroup reduced their price objective on Enphase Energy from $209.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Bank of America lowered their price objective on shares of Enphase Energy from $135.00 to $114.00 and set an “underperform” rating on the stock in a research report on Thursday, September 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $200.00 to $165.00 in a research report on Friday, July 28th. Truist Financial reaffirmed a “hold” rating and issued a $135.00 price target on shares of Enphase Energy in a research note on Wednesday. Finally, StockNews.com initiated coverage on Enphase Energy in a research note on Thursday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Moderate Buy” and a consensus price target of $227.41.
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.