Enphase Energy, Inc. $ENPH Stock Purchased by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Enphase Energy stake by 24.8% in the third quarter, adding 38,357 shares to hold 193,301 shares valued at about $6.4 million. Other institutional investors also expanded positions.
• Enphase’s latest quarterly results fell short of expectations: EPS was $0.41 versus $0.51 forecast, and revenue of $293.3 million was down 28.5% year over year.
• The CEO and a director recently bought company shares, while analysts’ consensus rating remains Hold, with an average price target of $35.11.

Alps Advisors Inc. boosted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 24.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,301 shares of the semiconductor company's stock after buying an additional 38,357 shares during the period. Alps Advisors Inc. owned approximately 0.15% of Enphase Energy worth $6,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ENPH. Handelsbanken Fonder AB grew its position in Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Enphase Energy by 42.4% in the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company's stock worth $69,359,000 after buying an additional 546,460 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Enphase Energy by 37.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,157 shares of the semiconductor company's stock worth $51,459,000 after buying an additional 373,212 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Enphase Energy by 79.2% during the first quarter. Principal Financial Group Inc. now owns 1,112,067 shares of the semiconductor company's stock worth $42,047,000 after buying an additional 491,488 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Enphase Energy during the second quarter worth $43,921,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

ENPH stock opened at $28.47 on Monday. The firm's fifty day simple moving average is $32.76 and its 200-day simple moving average is $40.81. The company has a market capitalization of $3.77 billion, a P/E ratio of 42.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.09 and a quick ratio of 3.56. Enphase Energy, Inc. has a 12 month low of $23.83 and a 12 month high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, October 27th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $293.33 million for the quarter, compared to analyst estimates of $304.59 million. Enphase Energy had a net margin of 7.49% and a return on equity of 9.16%. The company's revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of Enphase Energy stock in a transaction that occurred on Monday, November 2nd. The stock was bought at an average cost of $26.75 per share, for a total transaction of $267,500.00. Following the completion of the transaction, the chief executive officer owned 1,655,632 shares in the company, valued at $44,288,156. The trade was a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $30.59 per share, with a total value of $30,590.00. Following the completion of the transaction, the director owned 2,000 shares of the company's stock, valued at $61,180. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ENPH shares. The Goldman Sachs Group dropped their price objective on shares of Enphase Energy from $47.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, October 28th. UBS Group set a $56.00 target price on Enphase Energy in a research note on Wednesday, July 29th. Royal Bank Of Canada lowered their price target on Enphase Energy from $41.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, October 28th. TD Cowen cut their price objective on Enphase Energy from $70.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Finally, Craig Hallum set a $38.00 price objective on Enphase Energy in a report on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $35.11.

About Enphase Energy

Enphase Energy, Inc develops and sells energy technology for solar-powered homes and businesses. Its products include microinverters, which convert the direct current generated by solar panels into alternating current for use in buildings or delivery to the grid, as well as battery storage systems, electric vehicle chargers and related energy management software.

The company's integrated systems are designed to help customers monitor and manage solar generation, energy storage and electricity use.

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