First Trust Advisors LP Has $39.67 Million Holdings in Enphase Energy, Inc. $ENPH

First Trust Advisors LP grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000,413 shares of the semiconductor company’s stock after buying an additional 31,403 shares during the period. First Trust Advisors LP owned approximately 0.77% of Enphase Energy worth $39,666,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ENPH. LPL Financial LLC boosted its stake in Enphase Energy by 3.7% during the first quarter. LPL Financial LLC now owns 55,242 shares of the semiconductor company’s stock worth $3,428,000 after acquiring an additional 1,965 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Enphase Energy by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,011,771 shares of the semiconductor company’s stock valued at $62,780,000 after purchasing an additional 74,755 shares during the period. Invesco Ltd. boosted its position in shares of Enphase Energy by 15.5% during the 1st quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company’s stock worth $326,664,000 after purchasing an additional 706,656 shares in the last quarter. Entropy Technologies LP boosted its position in shares of Enphase Energy by 50.0% during the 1st quarter. Entropy Technologies LP now owns 19,597 shares of the semiconductor company’s stock worth $1,216,000 after purchasing an additional 6,534 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Enphase Energy in the 1st quarter valued at about $482,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was bought at an average price of $30.69 per share, for a total transaction of $153,450.00. Following the completion of the purchase, the chief executive officer owned 1,635,632 shares of the company’s stock, valued at approximately $50,197,546.08. The trade was a 0.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ENPH shares. BMO Capital Markets reaffirmed an “underperform” rating and set a $31.00 price target on shares of Enphase Energy in a research note on Wednesday, October 29th. Oppenheimer set a $67.00 target price on Enphase Energy and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Mizuho cut Enphase Energy from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $37.00 in a report on Thursday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Royal Bank Of Canada dropped their price objective on shares of Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Reduce” and a consensus price target of $39.75.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $31.55 on Wednesday. The business’s fifty day simple moving average is $32.26 and its 200 day simple moving average is $36.12. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $76.90. The firm has a market capitalization of $4.13 billion, a P/E ratio of 21.76 and a beta of 1.43.

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

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.