Generali Investments Towarzystwo Funduszy Inwestycyjnych Raises Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Key Points

• Generali Investments increased its stake in Enphase Energy by 52.6%, resulting in ownership of 29,000 shares valued at approximately $1.8 million.
• Enphase Energy reported earnings of $0.69 per share for the last quarter, exceeding analysts' estimates, with revenues of $363.15 million, reflecting a 19.7% year-over-year growth.
• Recent analyst ratings for Enphase Energy have mostly been downgraded, with several firms adjusting their price targets substantially lower, indicating a cautious outlook on the stock.

Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 52.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,000 shares of the semiconductor company's stock after acquiring an additional 10,000 shares during the quarter. Enphase Energy makes up approximately 1.1% of Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings, making the stock its 26th biggest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Enphase Energy were worth $1,799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CX Institutional bought a new position in Enphase Energy in the 1st quarter worth approximately $29,000. First Horizon Advisors Inc. boosted its position in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $47,000. GeoWealth Management LLC boosted its position in shares of Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 321 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Enphase Energy during the 1st quarter valued at approximately $73,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded up $0.48 on Tuesday, reaching $32.17. 1,670,919 shares of the stock were exchanged, compared to its average volume of 6,421,378. Enphase Energy, Inc. has a twelve month low of $31.13 and a twelve month high of $130.08. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 25.13 and a beta of 1.59. The business has a 50 day moving average price of $39.65 and a two-hundred day moving average price of $50.59. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

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 (EPS) for the quarter, beating 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 the consensus estimate of $359.14 million. During the same period in the previous year, the company posted $0.43 earnings per share. Enphase Energy's revenue for the quarter was up 19.7% on a year-over-year basis. Analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENPH. Royal Bank Of Canada set a $28.00 price target on Enphase Energy and gave the company a "sector perform" rating in a report on Wednesday, June 18th. Oppenheimer decreased their price target on Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Jefferies Financial Group decreased their price target on Enphase Energy from $32.00 to $28.00 and set an "underperform" rating on the stock in a report on Monday. Wells Fargo & Company set a $45.00 price target on Enphase Energy and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a report on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $55.22.

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.