Enphase Energy, Inc. (NASDAQ:ENPH) Stake Boosted by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Enphase Energy, Inc. by 139.8% during Q1, holding a total of 12,985 shares valued at $806,000.
• Several institutional investors have recently adjusted their positions in Enphase, with a combined ownership of 72.12% of the company's stock.
• Analysts have downgraded their price targets for Enphase Energy, with the current consensus rating being a "Hold" and an average target price of $55.86.

Bayforest Capital Ltd lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 139.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,985 shares of the semiconductor company's stock after purchasing an additional 7,569 shares during the period. Bayforest Capital Ltd's holdings in Enphase Energy were worth $806,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ENPH. Korea Investment CORP lifted its position in shares of Enphase Energy by 45.6% during the fourth quarter. Korea Investment CORP now owns 91,758 shares of the semiconductor company's stock worth $6,302,000 after purchasing an additional 28,742 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Enphase Energy by 10.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,132 shares of the semiconductor company's stock worth $15,594,000 after purchasing an additional 19,743 shares during the last quarter. NEOS Investment Management LLC raised its stake in Enphase Energy by 26.7% during the fourth quarter. NEOS Investment Management LLC now owns 5,888 shares of the semiconductor company's stock worth $404,000 after acquiring an additional 1,240 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $46,339,000. Finally, Pictet Asset Management Holding SA raised its stake in Enphase Energy by 2.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 86,411 shares of the semiconductor company's stock worth $5,935,000 after acquiring an additional 1,817 shares during the period. Institutional investors own 72.12% of the company's stock.

Enphase Energy Price Performance

NASDAQ:ENPH traded down $0.74 during trading hours on Friday, reaching $31.62. 1,750,104 shares of the company's stock were exchanged, compared to its average volume of 6,412,645. The company has a market capitalization of $4.13 billion, a P/E ratio of 24.65 and a beta of 1.67. Enphase Energy, Inc. has a 12 month low of $31.18 and a 12 month 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 business's 50-day simple moving average is $39.97 and its two-hundred day simple moving average is $51.24.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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. Citigroup dropped their price objective on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research note on Thursday, June 5th. Barclays increased their price objective on shares of Enphase Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. DZ Bank lowered shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Finally, Oppenheimer dropped their price objective on shares of Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Hold" and an average price target of $55.51.

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.