Rhumbline Advisers Purchases 33,350 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Rhumbline Advisers lifted its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,168 shares of the semiconductor company's stock after buying an additional 33,350 shares during the quarter. Rhumbline Advisers owned about 0.22% of Enphase Energy worth $18,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP bought a new stake in Enphase Energy during the 4th quarter valued at approximately $557,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings 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 valued at $1,305,000 after acquiring an additional 8,000 shares during the period. Norges Bank purchased a new position in Enphase Energy during the 4th quarter valued at $46,339,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enphase Energy during the 4th quarter valued at $5,324,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Enphase Energy during the 4th quarter valued at $584,000. Institutional investors own 72.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ENPH shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $54.00 target price (down from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. BNP Paribas downgraded Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. DZ Bank lowered Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho set a $53.00 target price on Enphase Energy and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Eleven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $68.31.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $41.18 on Friday. Enphase Energy, Inc. has a one year low of $37.59 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The stock has a market cap of $5.40 billion, a PE ratio of 55.65 and a beta of 1.69. The stock has a 50 day moving average price of $47.71 and a 200 day moving average price of $59.65.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Enphase Energy Company 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.

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