Jupiter Asset Management Ltd. bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,065 shares of the semiconductor company’s stock, valued at approximately $379,000.
A number of other hedge funds also recently modified their holdings of ENPH. PNC Managed Account Solutions Inc. purchased a new stake in Enphase Energy during the 2nd quarter valued at about $28,000. Laurel Wealth Advisors LLC boosted its holdings in Enphase Energy by 1,000.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 165 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 150 shares during the period. Allred Capital Management LLC purchased a new stake in Enphase Energy during the 1st quarter valued at about $35,000. CSat Investment Advisory L.P. purchased a new stake in Enphase Energy during the 1st quarter valued at about $38,000. Finally, MV Capital Management Inc. purchased a new stake in Enphase Energy during the 2nd quarter valued at about $40,000. Institutional investors own 67.26% of the company’s stock.
Several equities research analysts recently weighed in on the company. Seaport Global Securities initiated coverage on Enphase Energy in a report on Thursday, July 15th. They set a “neutral” rating and a $170.79 target price for the company. The Goldman Sachs Group increased their target price on Enphase Energy from $187.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, July 2nd. They noted that the move was a valuation call. TheStreet raised Enphase Energy from a “c+” rating to a “b” rating in a research report on Tuesday, July 27th. Stephens began coverage on Enphase Energy in a research report on Thursday, June 24th. They set an “overweight” rating and a $215.00 price objective for the company. Finally, began coverage on Enphase Energy in a research report on Friday, June 25th. They set a “buy” rating and a $220.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy has an average rating of “Buy” and an average target price of $185.03.
Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 27th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11. The company had revenue of $316.06 million for the quarter, compared to the consensus estimate of $311.23 million. Enphase Energy had a net margin of 17.28% and a return on equity of 42.16%. The company’s revenue for the quarter was up 151.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Research analysts predict that Enphase Energy, Inc. will post 1.34 earnings per share for the current year.
In other news, EVP David A. Ranhoff sold 28,031 shares of Enphase Energy stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $183.87, for a total value of $5,154,059.97. Following the transaction, the executive vice president now owns 199,957 shares of the company’s stock, valued at approximately $36,766,093.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Branderiz sold 18,908 shares of the firm’s stock in a transaction that occurred on Tuesday, June 22nd. The stock was sold at an average price of $164.39, for a total transaction of $3,108,286.12. Following the sale, the chief financial officer now owns 125,024 shares of the company’s stock, valued at $20,552,695.36. The disclosure for this sale can be found here. Insiders sold 73,634 shares of company stock valued at $12,895,553 in the last three months. Company insiders own 5.00% of the company’s stock.
About Enphase Energy
Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.
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