Elequin Capital LP Invests $26,000 in Enphase Energy, Inc. (NASDAQ:ENPH)

Elequin Capital LP acquired a new position in Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 129 shares of the semiconductor company’s stock, valued at approximately $26,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Enphase Energy by 7.4% during the 4th quarter. BlackRock Inc. now owns 14,961,479 shares of the semiconductor company’s stock valued at $2,737,054,000 after purchasing an additional 1,030,920 shares during the period. Vanguard Group Inc. increased its holdings in Enphase Energy by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock valued at $2,820,957,000 after purchasing an additional 60,024 shares during the period. State Street Corp increased its holdings in Enphase Energy by 3.3% during the 4th quarter. State Street Corp now owns 5,222,204 shares of the semiconductor company’s stock valued at $955,350,000 after purchasing an additional 166,746 shares during the period. Geode Capital Management LLC increased its holdings in Enphase Energy by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,518,259 shares of the semiconductor company’s stock valued at $459,596,000 after purchasing an additional 60,988 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Enphase Energy by 22.4% during the 1st quarter. Brown Advisory Inc. now owns 1,503,239 shares of the semiconductor company’s stock valued at $302,984,000 after purchasing an additional 275,423 shares during the period. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ENPH. B. Riley boosted their price target on Enphase Energy from $171.00 to $217.00 in a report on Wednesday, July 27th. Barclays began coverage on Enphase Energy in a report on Friday, August 5th. They set an “equal weight” rating and a $292.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Enphase Energy from $290.00 to $328.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum lifted their price objective on Enphase Energy from $213.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, KeyCorp lifted their price objective on Enphase Energy from $230.00 to $363.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.17.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $305.70 on Friday. Enphase Energy, Inc. has a twelve month low of $113.40 and a twelve month high of $324.84. The firm has a market cap of $41.41 billion, a P/E ratio of 213.78, a PEG ratio of 2.24 and a beta of 1.51. The company has a 50 day moving average of $261.60 and a 200 day moving average of $208.63. The company has a quick ratio of 3.35, a current ratio of 3.62 and a debt-to-equity ratio of 2.66.

Enphase Energy (NASDAQ:ENPHGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. Enphase Energy had a net margin of 11.71% and a return on equity of 56.60%. The company had revenue of $530.20 million during the quarter, compared to analyst estimates of $506.57 million. As a group, research analysts expect that Enphase Energy, Inc. will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $200.00, for a total value of $7,730,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,059,051 shares in the company, valued at approximately $211,810,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,369 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $293.03, for a total transaction of $1,573,278.07. Following the completion of the sale, the executive vice president now directly owns 92,902 shares in the company, valued at approximately $27,223,073.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $200.00, for a total transaction of $7,730,000.00. Following the sale, the chief executive officer now owns 1,059,051 shares of the company’s stock, valued at $211,810,200. The disclosure for this sale can be found here. Insiders sold a total of 179,688 shares of company stock worth $47,924,311 in the last three months. Insiders own 4.80% of the company’s stock.

Enphase Energy Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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