Swiss National Bank Decreases Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Swiss National Bank lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 31.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 261,800 shares of the semiconductor company's stock after selling 120,700 shares during the period. Swiss National Bank owned about 0.20% of Enphase Energy worth $16,245,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CX Institutional purchased a new stake in Enphase Energy during the first quarter worth about $29,000. First Horizon Advisors Inc. raised its position in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares during the period. GeoWealth Management LLC raised its position in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock valued at $61,000 after purchasing an additional 321 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $73,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $74,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the acquisition, the chief executive officer directly owned 1,620,632 shares of the company's stock, valued at $49,947,878.24. This represents a 0.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Enphase Energy Trading Up 2.0%

Shares of ENPH opened at $34.22 on Thursday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 26.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.82 and a current ratio of 1.97. Enphase Energy, Inc. has a fifty-two week low of $29.89 and a fifty-two week high of $130.08. The firm has a 50 day moving average price of $38.43 and a 200-day moving average price of $49.28.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ENPH shares. Bank of America lowered their price target on shares of Enphase Energy from $31.00 to $30.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets reissued an "underperform" rating and issued a $39.00 price target (down previously from $46.00) on shares of Enphase Energy in a research report on Tuesday, May 13th. BNP Paribas lowered shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group lowered their price target on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Oppenheimer lowered their price target on shares of Enphase Energy from $86.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $55.22.

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.

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