Banco Santander S.A. Purchases 13,417 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Banco Santander S.A. increased its holdings in Enphase Energy, Inc. by 19.5% during the first quarter, owning approximately $5.09 million worth of the company's stock.
• Several institutional investors also modified their positions in Enphase Energy, with 72.12% of the stock currently owned by such entities.
• Analysts have lowered their price targets for Enphase Energy, with ratings ranging from "underperform" to "hold," indicating a generally cautious outlook on the stock.

Banco Santander S.A. increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 19.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 82,076 shares of the semiconductor company's stock after purchasing an additional 13,417 shares during the period. Banco Santander S.A. owned approximately 0.06% of Enphase Energy worth $5,093,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. CX Institutional acquired a new position in shares of Enphase Energy during the first quarter worth approximately $29,000. First Horizon Advisors Inc. raised its stake in Enphase Energy by 83.0% during 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 last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the 4th quarter valued at $47,000. GeoWealth Management LLC raised its stake in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Enphase Energy during the 1st quarter valued at $73,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Trading Up 0.7%

Shares of ENPH traded up $0.23 during trading hours on Tuesday, reaching $31.92. The stock had a trading volume of 896,049 shares, compared to its average volume of 6,417,212. Enphase Energy, Inc. has a 52 week low of $31.13 and a 52 week high of $130.08. The firm has a 50-day moving average of $39.65 and a 200 day moving average of $50.59. The company has a market cap of $4.17 billion, a P/E ratio of 24.85 and a beta of 1.59. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

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, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company had revenue of $363.15 million during the quarter, compared to the consensus estimate of $359.14 million. During the same period in the prior year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. TD Cowen cut their price target on Enphase Energy from $45.00 to $40.00 and set a "hold" rating for the company in a report on Wednesday, July 23rd. Oppenheimer cut their price target on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Guggenheim restated a "sell" rating and issued a $33.00 price objective on shares of Enphase Energy in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group dropped their price objective on Enphase Energy from $32.00 to $28.00 and set an "underperform" rating for the company in a research note on Monday. Thirteen analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Enphase Energy has an average rating of "Hold" and a consensus target price of $55.22.

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.