Lecap Asset Management Ltd. Makes New $1.38 Million Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Lecap Asset Management Ltd. acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 22,267 shares of the semiconductor company's stock, valued at approximately $1,382,000.

Several other hedge funds and other institutional investors have also modified their holdings of ENPH. Woodline Partners LP acquired a new position in shares of Enphase Energy during the fourth quarter worth about $557,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Enphase Energy by 72.7% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock worth $1,305,000 after acquiring an additional 8,000 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Enphase Energy in the 1st quarter worth approximately $512,000. Norges Bank purchased a new position in Enphase Energy in the 4th quarter worth approximately $46,339,000. Finally, Bouvel Investment Partners LLC acquired a new stake in Enphase Energy in the first quarter valued at approximately $847,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ENPH. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, May 13th. Citigroup dropped their target price on Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research report 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 report on Wednesday, June 18th. Finally, Susquehanna dropped their price objective on Enphase Energy from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and a consensus price target of $65.44.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $2.12 during trading on Friday, hitting $40.88. The stock had a trading volume of 12,187,739 shares, compared to its average volume of 4,868,577. The business has a fifty day moving average of $43.73 and a two-hundred day moving average of $56.51. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08. The firm has a market cap of $5.36 billion, a P/E ratio of 37.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77.

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.