VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 13,900 Enphase Energy, Inc. $ENPH

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,900 shares of the semiconductor company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Harbour Investments Inc. boosted its holdings in shares of Enphase Energy by 34.8% in the 2nd quarter. Harbour Investments Inc. now owns 1,725 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 445 shares in the last quarter. TD Asset Management Inc boosted its stake in Enphase Energy by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 24,080 shares of the semiconductor company’s stock worth $955,000 after purchasing an additional 546 shares in the last quarter. RFG Advisory LLC boosted its stake in Enphase Energy by 34.3% in the 2nd quarter. RFG Advisory LLC now owns 7,400 shares of the semiconductor company’s stock worth $293,000 after purchasing an additional 1,890 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Enphase Energy by 3.0% in the 2nd quarter. Yousif Capital Management LLC now owns 16,796 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 482 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Enphase Energy in the 2nd quarter worth approximately $192,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $36.23 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 28.30 and a beta of 1.56. The company has a 50 day moving average price of $37.14 and a 200-day moving average price of $40.45. Enphase Energy, Inc. has a 1-year low of $29.89 and a 1-year high of $89.95.

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

Analyst Upgrades and Downgrades

ENPH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Glj Research lifted their target price on shares of Enphase Energy from $19.80 to $23.49 and gave the stock a “sell” rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 30th. Bank of America reduced their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating for the company in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Enphase Energy from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and thirteen have assigned a Sell rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Reduce” and an average price target of $46.37.

Insider Buying and Selling at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $30.82 per share, with a total value of $154,100.00. Following the acquisition, the chief executive officer directly owned 1,620,632 shares in the company, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.

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.