AIA Group Ltd Boosts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

AIA Group Ltd lifted its position in Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 69.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,194 shares of the semiconductor company’s stock after purchasing an additional 490 shares during the quarter. AIA Group Ltd’s holdings in Enphase Energy were worth $241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American National Bank lifted its stake in shares of Enphase Energy by 80.5% in the 4th quarter. American National Bank now owns 148 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Enphase Energy during the 4th quarter valued at approximately $27,000. AlphaCentric Advisors LLC bought a new position in Enphase Energy during the 4th quarter valued at approximately $27,000. Horan Securities Inc. bought a new position in Enphase Energy during the 4th quarter valued at approximately $29,000. Finally, Global Wealth Management Investment Advisory Inc. raised its position in Enphase Energy by 780.0% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 176 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Institutional investors own 68.30% of the company’s stock.

Insider Activity

In other news, Director Richard Mora sold 2,825 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $297.33, for a total transaction of $839,957.25. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $475,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Joseph Ian Malchow sold 12,500 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $188.00, for a total value of $2,350,000.00. Following the transaction, the director now directly owns 67,590 shares of the company’s stock, valued at approximately $12,706,920. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Mora sold 2,825 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $297.33, for a total value of $839,957.25. Following the completion of the transaction, the director now directly owns 1,600 shares in the company, valued at $475,728. The disclosure for this sale can be found here. Insiders have sold 192,497 shares of company stock valued at $41,130,902 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Susquehanna Bancshares upped their price target on Enphase Energy from $250.00 to $260.00 and gave the company a “positive” rating in a research report on Wednesday, July 27th. Cowen upped their target price on Enphase Energy from $240.00 to $278.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Needham & Company LLC upped their target price on Enphase Energy from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. upped their target price on Enphase Energy from $240.00 to $247.00 in a report on Wednesday, July 20th. Finally, Barclays began coverage on Enphase Energy in a report on Friday. They set an “equal weight” rating and a $292.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.52.

Enphase Energy Price Performance

NASDAQ ENPH opened at $300.91 on Friday. The business’s fifty day moving average price is $211.58 and its 200-day moving average price is $181.36. The stock has a market capitalization of $40.76 billion, a price-to-earnings ratio of 210.43, a PEG ratio of 2.47 and a beta of 1.50. The company has a debt-to-equity ratio of 2.66, a current ratio of 3.62 and a quick ratio of 3.35. Enphase Energy, Inc. has a 1-year low of $113.40 and a 1-year high of $305.88.

Enphase Energy (NASDAQ:ENPH – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.15. The firm had revenue of $530.20 million for the quarter, compared to analysts’ expectations of $506.57 million. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.81 earnings per share for the current year.

About Enphase Energy

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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 services.