Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Enphase Energy by 36.0%, owning 33,937 shares valued at approximately $2.11 million after selling 19,057 shares in the first quarter.
• Institutional investors collectively own 72.12% of Enphase Energy's stock, with numerous funds increasing their stakes in the semiconductor company during the fourth quarter.
• Enphase Energy reported $0.69 EPS for the last quarter, exceeding expectations and showing a year-over-year revenue growth of 19.7%.

Allianz Asset Management GmbH trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 36.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,937 shares of the semiconductor company's stock after selling 19,057 shares during the period. Allianz Asset Management GmbH's holdings in Enphase Energy were worth $2,106,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ENPH. CX Institutional bought a new position in Enphase Energy in the 1st quarter worth about $29,000. First Horizon Advisors Inc. grew its stake in Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Enphase Energy in the 4th quarter worth about $47,000. GeoWealth Management LLC grew its stake in Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of Enphase Energy in the 1st quarter worth approximately $74,000. 72.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. 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. TD Cowen dropped their price objective on shares of Enphase Energy from $45.00 to $40.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. Bank of America dropped their price objective on shares of Enphase Energy from $31.00 to $30.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 23rd. Guggenheim reiterated a "sell" rating and set a $33.00 price objective on shares of Enphase Energy in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $32.00 price objective (down from $77.00) on shares of Enphase Energy in a research note on Wednesday, July 9th. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and a consensus price target of $55.51.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded down $0.93 during trading on Friday, hitting $31.43. 7,592,208 shares of the company's stock were exchanged, compared to its average volume of 8,665,127. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.82 and a current ratio of 1.97. The business has a 50-day simple moving average of $39.81 and a 200-day simple moving average of $51.01. Enphase Energy, Inc. has a 52-week low of $31.13 and a 52-week high of $130.08. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 24.55 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating 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 net margin of 11.78% and a return on equity of 24.55%. The firm's revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Enphase Energy Company 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.