Janney Montgomery Scott LLC Has $903,000 Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Janney Montgomery Scott LLC raised its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 248.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,557 shares of the semiconductor company's stock after buying an additional 10,377 shares during the quarter. Janney Montgomery Scott LLC's holdings in Enphase Energy were worth $903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Mission Wealth Management LP bought a new stake in Enphase Energy in the first quarter worth $261,000. Bouvel Investment Partners LLC bought a new stake in Enphase Energy in the first quarter worth $847,000. Exchange Traded Concepts LLC lifted its position in Enphase Energy by 28.1% in the first quarter. Exchange Traded Concepts LLC now owns 5,317 shares of the semiconductor company's stock worth $330,000 after buying an additional 1,167 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Enphase Energy by 47.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,556 shares of the semiconductor company's stock worth $593,000 after purchasing an additional 3,089 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Enphase Energy by 42.4% during the first quarter. Fifth Third Bancorp now owns 3,688 shares of the semiconductor company's stock worth $229,000 after purchasing an additional 1,098 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the acquisition, the chief executive officer owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ENPH. Canaccord Genuity Group cut their price target on Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup cut their price target on Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research note on Thursday, June 5th. Royal Bank Of Canada set a $28.00 price target on Enphase Energy and gave the company a "sector perform" rating in a research note on Wednesday, June 18th. Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 target price on the stock. in a research note on Wednesday, April 23rd. Finally, Guggenheim reiterated a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a research note on Wednesday, April 23rd. Twelve research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $65.44.

Enphase Energy Stock Up 3.7%

Shares of ENPH traded up $1.51 during midday trading on Friday, hitting $42.48. The stock had a trading volume of 7,032,143 shares, compared to its average volume of 4,954,120. The company has a 50 day simple moving average of $43.00 and a two-hundred day simple moving average of $55.41. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 39.33 and a beta of 1.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77.

Enphase Energy Company 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.