International Assets Investment Management LLC Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

International Assets Investment Management LLC bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 40,831 shares of the semiconductor company’s stock, valued at approximately $53,950,000.

A number of other hedge funds have also added to or reduced their stakes in ENPH. Exchange Traded Concepts LLC raised its position in shares of Enphase Energy by 155.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock worth $162,000 after buying an additional 820 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Enphase Energy by 22.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 100,718 shares of the semiconductor company’s stock valued at $12,101,000 after acquiring an additional 18,130 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Enphase Energy by 2.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,870 shares of the semiconductor company’s stock worth $3,108,000 after purchasing an additional 600 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Enphase Energy by 16.0% in the third quarter. Pinnacle Associates Ltd. now owns 2,597 shares of the semiconductor company’s stock worth $312,000 after purchasing an additional 358 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Enphase Energy by 103.6% in the third quarter. Raymond James & Associates now owns 101,922 shares of the semiconductor company’s stock valued at $12,246,000 after purchasing an additional 51,854 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. B. Riley boosted their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Canaccord Genuity Group lowered their price target on Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Oppenheimer upped their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $115.00 to $134.00 in a research note on Friday, April 26th. Finally, StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $133.45.

Enphase Energy Stock Performance

Shares of ENPH opened at $114.20 on Friday. The company has a 50-day simple moving average of $116.24 and a two-hundred day simple moving average of $111.28. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. The firm has a market capitalization of $15.54 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.76 and a beta of 1.50. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, analysts anticipate that Enphase Energy, Inc. will post 1.59 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Mandy Yang bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares in the company, valued at approximately $6,564,305.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,285 shares of company stock worth $6,148,228. Corporate insiders own 3.40% of the company’s stock.

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.