Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. increased its stake in Enphase Energy by 70.2% during the first quarter, acquiring an additional 24,213 shares, bringing their total holdings to 58,727 shares valued at approximately $3.64 million.
• Several equities analysts have downgraded Enphase Energy, with price targets now ranging from $36.00 to $42.00, reflecting a cautious outlook as the stock receives a consensus rating of "Hold" from analysts.
• Enphase Energy announced a quarterly earnings of $0.69 per share, exceeding estimates, with revenue of $363.15 million, marking a 19.7% increase compared to the same quarter last year.

Pacer Advisors Inc. grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 70.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,727 shares of the semiconductor company's stock after buying an additional 24,213 shares during the period. Pacer Advisors Inc.'s holdings in Enphase Energy were worth $3,644,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ENPH. DekaBank Deutsche Girozentrale grew its position in Enphase Energy by 0.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock valued at $5,421,000 after acquiring an additional 238 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Enphase Energy by 2.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company's stock worth $643,000 after buying an additional 255 shares in the last quarter. First Horizon Advisors Inc. grew 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 worth $35,000 after buying an additional 258 shares in the last quarter. Leibman Financial Services Inc. grew its position in shares of Enphase Energy by 1.0% during the 1st quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company's stock worth $1,829,000 after buying an additional 305 shares in the last quarter. Finally, McGowan Group Asset Management Inc. grew its position in shares of Enphase Energy by 2.0% during the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company's stock worth $1,145,000 after buying an additional 319 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their price target on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. BNP Paribas Exane downgraded Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a research report on Tuesday, May 13th. Morgan Stanley downgraded Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price target on the stock. in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $37.00 price target (down previously from $64.00) on shares of Enphase Energy in a research report on Tuesday, July 15th. Finally, DZ Bank downgraded Enphase Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 23rd. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and an average target price of $55.86.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded down $1.47 during trading on Tuesday, hitting $33.48. The stock had a trading volume of 7,009,054 shares, compared to its average volume of 8,857,231. Enphase Energy, Inc. has a 12-month low of $33.01 and a 12-month high of $130.08. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 26.16 and a beta of 1.67. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $40.68 and a two-hundred day simple moving average of $51.73.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $359.14 million. During the same period last year, the business posted $0.43 earnings per share. The company's revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

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.