11,687 Shares in Enphase Energy, Inc. (NASDAQ:ENPH) Bought by TCW Group Inc.

TCW Group Inc. acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,687 shares of the semiconductor company’s stock, valued at approximately $725,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENPH. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock worth $685,799,000 after acquiring an additional 2,680,567 shares during the period. Invesco Ltd. increased its stake in Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after buying an additional 1,378,978 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in Enphase Energy by 531.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock valued at $55,342,000 after buying an additional 678,163 shares during the last quarter. Norges Bank acquired a new stake in Enphase Energy in the 4th quarter valued at $46,339,000. Finally, Alyeska Investment Group L.P. increased its stake in Enphase Energy by 62.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,349,032 shares of the semiconductor company’s stock valued at $92,652,000 after buying an additional 517,989 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $34.95 on Tuesday. Enphase Energy, Inc. has a twelve month low of $33.01 and a twelve month high of $130.08. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $40.68 and a two-hundred day simple moving average of $51.73. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 27.30 and a beta of 1.67.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The business had revenue of $363.15 million during the quarter, compared to analysts’ expectations of $359.14 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on ENPH shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (down from $64.00) on shares of Enphase Energy in a research note on Tuesday, July 15th. 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 research note on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. TD Cowen decreased their price objective on shares of Enphase Energy from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, July 23rd. Finally, Piper Sandler decreased their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.86.

About Enphase Energy

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.