Enphase Energy, Inc. $ENPH Shares Sold by Resona Asset Management Co. Ltd.

Key Points

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Resona Asset Management Co. Ltd. decreased its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 97.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,182 shares of the semiconductor company's stock after selling 40,630 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Enphase Energy were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional acquired a new position in shares of Enphase Energy in the 1st quarter valued at $29,000. First Horizon Advisors Inc. boosted its position in Enphase Energy by 83.0% during 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 during the period. GeoWealth Management LLC boosted its position in Enphase Energy by 56.3% during 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 during the period. Harvest Fund Management Co. Ltd acquired a new stake in Enphase Energy during the 1st quarter worth about $73,000. Finally, Intact Investment Management Inc. acquired a new stake in Enphase Energy during the 1st quarter worth about $74,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENPH. BMO Capital Markets restated an "underperform" rating and set a $39.00 price objective (down from $46.00) on shares of Enphase Energy in a research report on Tuesday, May 13th. Johnson Rice lowered Enphase Energy from a "buy" rating to an "accumulate" rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 30th. Susquehanna decreased their price objective on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating for the company in a research report on Monday, July 21st. The Goldman Sachs Group reiterated a "sell" rating and set a $32.00 price target (down from $77.00) on shares of Enphase Energy in a report on Wednesday, July 9th. Finally, BNP Paribas lowered Enphase Energy from an "outperform" rating to an "underperform" rating in a report on Tuesday, May 13th. Thirteen analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.22.

Enphase Energy Stock Performance

ENPH opened at $35.77 on Tuesday. The stock has a market cap of $4.68 billion, a PE ratio of 27.95 and a beta of 1.59. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. Enphase Energy, Inc. has a 1 year low of $29.89 and a 1 year high of $130.08. The stock's 50 day simple moving average is $37.97 and its 200-day simple moving average is $48.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. Enphase Energy's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,620,632 shares in the company, valued at approximately $49,947,878.24. This trade represents a 0.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company's stock.

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.

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