Enphase Energy, Inc. $ENPH Position Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 62.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,092 shares of the semiconductor company’s stock after selling 73,160 shares during the quarter. Edgestream Partners L.P.’s holdings in Enphase Energy were worth $1,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in shares of Enphase Energy in the 1st quarter worth approximately $38,000. Brooklyn Investment Group lifted its stake in Enphase Energy by 124.7% during the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 368 shares during the last quarter. CX Institutional boosted its holdings in Enphase Energy by 135.4% in the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 623 shares during the period. Manchester Capital Management LLC increased its stake in Enphase Energy by 24,040.0% during the second quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 1,202 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Enphase Energy by 73.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,610 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 680 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Activity

In related news, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $30.93 per share, with a total value of $309,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,630,632 shares of the company’s stock, valued at $50,435,447.76. This trade represents a 0.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $31.25 on Friday. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $78.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 21.55 and a beta of 1.43. The business has a 50 day simple moving average of $32.43 and a 200 day simple moving average of $36.39.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. The company had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ENPH. Loop Capital set a $31.00 price target on shares of Enphase Energy in a report on Thursday, October 30th. Barclays raised their target price on shares of Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Wall Street Zen lowered Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Glj Research raised their price target on Enphase Energy from $19.80 to $23.49 and gave the stock a “sell” rating in a report on Tuesday, September 23rd. Finally, Susquehanna set a $33.00 price objective on Enphase Energy in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $39.90.

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.