ASR Vermogensbeheer N.V. Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• ASR Vermogensbeheer N.V. acquired a new position in Enphase Energy, purchasing 37,704 shares valued at approximately $2.34 million during the first quarter.
• Recent analyst reports have shown a decline in ratings for Enphase Energy, with BNP Paribas Exane downgrading the stock to "underperform" and setting a target price of $40.00.
• Enphase Energy reported earnings of $0.69 EPS in its latest quarter, which was above the consensus estimate of $0.62, with revenue also exceeding expectations at $363.15 million.

ASR Vermogensbeheer N.V. bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,704 shares of the semiconductor company's stock, valued at approximately $2,339,000.

A number of other institutional investors also recently bought and sold shares of ENPH. CX Institutional purchased a new stake in shares of Enphase Energy in the 1st quarter worth about $29,000. First Horizon Advisors Inc. raised its position in Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares during the last quarter. GeoWealth Management LLC lifted its holdings in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $73,000. Finally, Intact Investment Management Inc. purchased a new position in shares of Enphase Energy during the 1st quarter worth approximately $74,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ENPH. BNP Paribas Exane lowered Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a research note on Tuesday, May 13th. Barclays boosted their price target on Enphase Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $37.00 price objective (down previously from $64.00) on shares of Enphase Energy in a research note on Tuesday, July 15th. Piper Sandler dropped their price objective on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial reduced their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and a consensus price target of $55.22.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the acquisition, the chief executive officer owned 1,620,632 shares in the company, valued at $49,947,878.24. This represents a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company's stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $31.79 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The company has a market cap of $4.16 billion, a PE ratio of 24.84 and a beta of 1.59. The company's fifty day simple moving average is $39.16 and its 200-day simple moving average is $50.10. Enphase Energy, Inc. has a 52 week low of $29.89 and a 52 week high of $130.08.

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

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.

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