Invesco Ltd. Raises Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Invesco Ltd. boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,264,521 shares of the semiconductor company’s stock after buying an additional 706,656 shares during the quarter. Invesco Ltd.’s holdings in Enphase Energy were worth $326,664,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ENPH. CX Institutional purchased a new stake in shares of Enphase Energy during the 1st quarter valued at about $29,000. First Horizon Advisors Inc. increased its position in shares of Enphase Energy by 83.0% during the 1st 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 last quarter. GeoWealth Management LLC increased its position in shares of Enphase Energy by 56.3% during the 4th 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 last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Enphase Energy during the 1st quarter valued at about $73,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Enphase Energy during the 1st quarter valued at about $74,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $30.82 per share, for a total transaction of $154,100.00. Following the completion of the purchase, the chief executive officer owned 1,620,632 shares in the company, valued at approximately $49,947,878.24. This represents a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Enphase Energy from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Barclays increased their target price on shares of Enphase Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, July 24th. Piper Sandler reduced their target price on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Oppenheimer reduced their target price on shares of Enphase Energy from $86.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. Finally, Morgan Stanley lowered shares of Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 target price for the company. in a report on Wednesday, April 23rd. Thirteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.22.

Enphase Energy Stock Performance

ENPH stock opened at $32.57 on Tuesday. 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 business’s fifty day simple moving average is $38.81 and its two-hundred day simple moving average is $49.50. Enphase Energy, Inc. has a twelve month low of $29.89 and a twelve month high of $130.08. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 25.45 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm 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 24.55% and a net margin of 11.78%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.