Teacher Retirement System of Texas Buys New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Teacher Retirement System of Texas purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,924 shares of the semiconductor company's stock, valued at approximately $1,609,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after acquiring an additional 44,782 shares during the last quarter. Invesco Ltd. grew its stake in Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock worth $313,034,000 after buying an additional 1,378,978 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Enphase Energy by 40.9% during the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after acquiring an additional 484,497 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Enphase Energy by 29.6% in the 4th quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after acquiring an additional 331,917 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen reissued a "hold" rating and issued a $45.00 price objective (down previously from $58.00) on shares of Enphase Energy in a report on Tuesday, July 8th. Guggenheim reiterated a "sell" rating and set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, April 23rd. Canaccord Genuity Group cut their target price on Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $32.00 price target (down previously from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Finally, Susquehanna cut their target price on shares of Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Thirteen research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.20.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This represents a 0.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company's stock.

Enphase Energy Trading Down 4.4%

Shares of ENPH traded down $1.83 during trading hours on Tuesday, hitting $40.15. 5,692,725 shares of the stock traded hands, compared to its average volume of 5,026,352. The business has a fifty day moving average of $42.65 and a 200-day moving average of $54.18. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $5.27 billion, a PE ratio of 37.28 and a beta of 1.67. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08.

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.