Y Intercept Hong Kong Ltd Acquires 32,257 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Y Intercept Hong Kong Ltd lifted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 379.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,767 shares of the semiconductor company's stock after purchasing an additional 32,257 shares during the period. Y Intercept Hong Kong Ltd's holdings in Enphase Energy were worth $2,530,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after buying an additional 44,782 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after purchasing an additional 484,497 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Enphase Energy by 29.6% in the fourth 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 in the last quarter. Institutional investors own 72.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ENPH shares. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, June 20th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $32.00 price objective (down from $77.00) on shares of Enphase Energy in a research note on Wednesday, July 9th. Oppenheimer set a $84.00 price objective on shares of Enphase Energy and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Finally, TD Cowen reaffirmed a "hold" rating and set a $45.00 price objective (down from $58.00) on shares of Enphase Energy in a research note on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.46.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $42.50 on Wednesday. The business's 50 day moving average price is $41.77 and its 200 day moving average price is $52.82. The firm has a market cap of $5.58 billion, a P/E ratio of 39.35 and a beta of 1.67. Enphase Energy, Inc. has a 52 week low of $33.01 and a 52 week high of $130.08. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 21.43% and a net margin of 10.43%. The business's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.

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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