National Pension Service Acquires 137,889 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

National Pension Service increased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 73.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,002 shares of the semiconductor company’s stock after purchasing an additional 137,889 shares during the quarter. National Pension Service owned approximately 0.24% of Enphase Energy worth $66,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. GPS Wealth Strategies Group LLC purchased a new position in shares of Enphase Energy during the 1st quarter worth approximately $26,000. KB Financial Partners LLC purchased a new position in shares of Enphase Energy during the 1st quarter worth approximately $28,000. Resurgent Financial Advisors LLC purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC purchased a new position in shares of Enphase Energy during the 1st quarter worth approximately $37,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $42,000. 71.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. KeyCorp reduced their target price on Enphase Energy from $267.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. TheStreet downgraded Enphase Energy from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. Wolfe Research downgraded Enphase Energy from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 20th. Truist Financial cut their price target on Enphase Energy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, July 31st. Finally, Northland Securities cut their price target on Enphase Energy from $300.00 to $235.00 in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $242.90.

Enphase Energy Price Performance

NASDAQ ENPH opened at $128.11 on Thursday. The business’s fifty day moving average price is $154.96 and its 200-day moving average price is $178.24. The stock has a market capitalization of $17.47 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.44 and a quick ratio of 3.22. Enphase Energy, Inc. has a 1-year low of $120.90 and a 1-year high of $339.92.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.21. The firm had revenue of $711.12 million for the quarter, compared to analysts’ expectations of $726.94 million. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. On average, equities analysts predict that Enphase Energy, Inc. will post 3.77 earnings per share for the current year.

Enphase Energy Company Profile

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.