Enphase Energy, Inc. (NASDAQ:ENPH) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Enphase Energy by 228.5%, now owning 254,672 shares valued at approximately $15.8 million.
• CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company at an average price of $30.82 per share, increasing his ownership to about 1.62 million shares.
• Analysts have mixed ratings on Enphase Energy, with an average consensus rating of "Hold" and a price target of $55.22, amidst recent downgrades and adjustments from several institutions.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 228.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,672 shares of the semiconductor company's stock after buying an additional 177,151 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Enphase Energy worth $15,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Cynosure Group LLC raised its holdings in shares of Enphase Energy by 38.2% during the first quarter. Cynosure Group LLC now owns 17,540 shares of the semiconductor company's stock valued at $1,088,000 after buying an additional 4,845 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Enphase Energy by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,011,771 shares of the semiconductor company's stock valued at $62,780,000 after buying an additional 74,755 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Enphase Energy during the first quarter valued at approximately $2,339,000. Maxi Investments CY Ltd raised its holdings in shares of Enphase Energy by 650.0% during the first quarter. Maxi Investments CY Ltd now owns 52,500 shares of the semiconductor company's stock valued at $3,258,000 after buying an additional 45,500 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Enphase Energy during the first quarter valued at approximately $89,000. Institutional investors own 72.12% of the company's stock.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $30.82 per share, with a total value of $154,100.00. Following the transaction, the chief executive officer owned 1,620,632 shares of the company's stock, valued at approximately $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $32.44 on Monday. Enphase Energy, Inc. has a fifty-two week low of $29.89 and a fifty-two week high of $130.08. The business has a 50-day moving average of $38.99 and a two-hundred day moving average of $49.71. The stock has a market capitalization of $4.24 billion, a P/E ratio of 25.34 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.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company had revenue of $363.15 million during the quarter, compared to analysts' expectations of $359.14 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ENPH shares. Deutsche Bank Aktiengesellschaft cut their price target on Enphase Energy from $49.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, July 24th. DZ Bank downgraded Enphase Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 23rd. Mizuho cut their target price on Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. BNP Paribas Exane downgraded Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price for the company. in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada set a $28.00 target price on Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy has an average rating of "Hold" and a consensus price target of $55.22.

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.

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