Charles Schwab Investment Management Inc. Buys 74,755 Shares of Enphase Energy, Inc. $ENPH

Key Points

• Charles Schwab Investment Management Inc. increased its position in Enphase Energy by 8.0%, owning over 1 million shares valued at approximately $62.78 million.
• Enphase Energy reported a quarterly earnings of $0.69 per share, exceeding estimates, with revenue rising by 19.7% year-over-year to $363.15 million.
• Recent analyst ratings show a mixed outlook, with many firms lowering target prices and a consensus rating of "Hold" assigned to the stock.

Charles Schwab Investment Management Inc. boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011,771 shares of the semiconductor company's stock after purchasing an additional 74,755 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Enphase Energy worth $62,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional purchased a new stake in shares of Enphase Energy in the first quarter valued at $29,000. First Horizon Advisors Inc. grew its holdings in Enphase Energy by 83.0% in the first 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 period. GeoWealth Management LLC increased its position in Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 321 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Enphase Energy during the first quarter worth approximately $73,000. Finally, Intact Investment Management Inc. purchased a new position in Enphase Energy during the first quarter worth approximately $74,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the purchase, the chief executive officer owned 1,620,632 shares of the company's stock, valued at approximately $49,947,878.24. The trade was a 0.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENPH. Johnson Rice cut Enphase Energy from a "buy" rating to an "accumulate" rating and set a $45.00 price objective on the stock. in a research note on Wednesday, July 30th. Piper Sandler reduced their target price on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Barclays boosted their price objective on shares of Enphase Energy from $28.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Oppenheimer cut their target price on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Finally, TD Cowen cut their price target on Enphase Energy from $45.00 to $40.00 and set a "hold" rating on the stock in a report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average target price of $55.22.

Enphase Energy Price Performance

NASDAQ:ENPH traded up $1.46 during mid-day trading on Monday, reaching $36.30. The stock had a trading volume of 9,780,683 shares, compared to its average volume of 6,640,743. Enphase Energy, Inc. has a 12 month low of $29.89 and a 12 month high of $130.08. The stock has a market capitalization of $4.75 billion, a PE ratio of 28.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The stock has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $48.70.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. Enphase Energy's revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, equities analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share 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.