QRG Capital Management Inc. Invests $512,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

QRG Capital Management Inc. purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,247 shares of the semiconductor company's stock, valued at approximately $512,000.

A number of other institutional investors have also modified their holdings of ENPH. Vanguard Group Inc. grew its position in shares of Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after purchasing an additional 44,782 shares during the period. Invesco Ltd. grew its holdings in Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after purchasing an additional 1,378,978 shares during the period. Geode Capital Management LLC increased its position in Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock worth $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Northern Trust Corp raised its stake in Enphase Energy by 40.9% during the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock worth $114,614,000 after purchasing an additional 484,497 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Enphase Energy by 29.6% in the 4th quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after purchasing an additional 331,917 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Up 12.8%

Enphase Energy stock traded up $4.89 during midday trading on Thursday, hitting $43.00. The stock had a trading volume of 15,848,562 shares, compared to its average volume of 4,832,631. The business has a fifty day moving average price of $43.96 and a 200 day moving average price of $56.75. Enphase Energy, Inc. has a 12 month low of $33.01 and a 12 month high of $130.08. The stock has a market cap of $5.64 billion, a P/E ratio of 39.81 and a beta of 1.69. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. This represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ENPH shares. Redburn Atlantic began coverage on Enphase Energy in a report on Monday, March 3rd. They set a "neutral" rating for the company. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a research note on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, June 20th. Oppenheimer set a $84.00 target price on shares of Enphase Energy and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated an "underperform" rating and issued a $39.00 price target (down from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Twelve investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.44.

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.