33,684 Shares in Enphase Energy, Inc. (NASDAQ:ENPH) Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has acquired 33,684 shares of Enphase Energy, valued at approximately $2.09 million, marking a new position in the company.
• Enphase Energy's stock has seen significant changes in analyst ratings, with Goldman Sachs revising its price target from $77 to $32, while the consensus rating remains at "Hold" with an average target price of $55.86.
• The company reported a 19.7% year-over-year revenue increase for the quarter, with earnings per share of $0.69, surpassing consensus estimates by $0.07.

Neo Ivy Capital Management acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,684 shares of the semiconductor company's stock, valued at approximately $2,090,000.

Several other institutional investors have also added to or reduced their stakes in ENPH. CX Institutional purchased a new stake in Enphase Energy during the first quarter valued at about $29,000. First Horizon Advisors Inc. increased its position in shares of Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after buying an additional 258 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy during the fourth quarter valued at about $47,000. GeoWealth Management LLC increased its position in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after buying an additional 321 shares during the period. Finally, Sava Infond d.o.o. bought a new stake in shares of Enphase Energy during the fourth quarter valued at about $69,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENPH. Barclays upped their price target on Enphase Energy from $28.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Canaccord Genuity Group decreased their price target on Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Susquehanna decreased their price target on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, July 21st. Mizuho decreased their price target on Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Finally, Jefferies Financial Group decreased their price target on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $55.86.

Enphase Energy Stock Down 2.8%

ENPH traded down $1.00 during trading on Tuesday, reaching $33.95. The stock had a trading volume of 3,222,566 shares, compared to its average volume of 6,408,495. The stock's 50 day moving average is $40.68 and its two-hundred day moving average is $51.73. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 26.58 and a beta of 1.67. Enphase Energy, Inc. has a one year low of $33.01 and a one year high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The firm had revenue of $363.15 million during the quarter, compared to the consensus estimate of $359.14 million. During the same period last year, the company earned $0.43 earnings per share. The company's revenue was up 19.7% on a year-over-year basis. As a group, analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.