TCW Group Inc. Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• TCW Group Inc. has acquired 11,687 shares of Enphase Energy, valued at approximately $725,000, as part of its new position reported in a recent 13F filing.
• Enphase Energy reported a 19.7% year-over-year increase in revenue, with $363.15 million in revenue for the latest quarter, exceeding analyst expectations.
• The stock currently holds a consensus rating of "Hold" among analysts, with a revised price target averaging $55.86.

TCW Group Inc. bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,687 shares of the semiconductor company's stock, valued at approximately $725,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in Enphase Energy by 0.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock worth $5,421,000 after purchasing an additional 238 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Enphase Energy by 2.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company's stock valued at $643,000 after purchasing an additional 255 shares during the period. First Horizon Advisors Inc. grew its position in shares of Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares during the period. Leibman Financial Services Inc. grew its position in shares of Enphase Energy by 1.0% in the 1st quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock valued at $1,829,000 after purchasing an additional 305 shares during the period. Finally, McGowan Group Asset Management Inc. grew its position in shares of Enphase Energy by 2.0% in the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock valued at $1,145,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ENPH. Bank of America decreased their price objective on Enphase Energy from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Wednesday, July 23rd. KeyCorp reiterated an "underweight" rating and set a $31.00 price objective on shares of Enphase Energy in a research note on Tuesday, June 17th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $37.00 price target (down previously from $64.00) on shares of Enphase Energy in a research note on Tuesday, July 15th. Oppenheimer dropped their price target on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Citigroup dropped their price target on Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research note on Thursday, June 5th. Thirteen investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $55.86.

Enphase Energy Price Performance

Shares of ENPH traded down $1.47 during trading hours on Tuesday, hitting $33.48. 7,009,054 shares of the company were exchanged, compared to its average volume of 8,857,231. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 26.16 and a beta of 1.67. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average is $40.68 and its 200 day moving average is $51.73.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. Enphase Energy's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. On average, equities analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal 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.