DnB Asset Management AS Grows Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

DnB Asset Management AS increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 40.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 297,462 shares of the semiconductor company’s stock after buying an additional 84,931 shares during the period. DnB Asset Management AS owned about 0.22% of Enphase Energy worth $49,819,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Mizuho Markets Americas LLC boosted its position in shares of Enphase Energy by 2,542.2% during the first quarter. Mizuho Markets Americas LLC now owns 2,335,000 shares of the semiconductor company’s stock worth $64,890,000 after acquiring an additional 2,246,626 shares during the last quarter. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth $325,230,000. Renaissance Technologies LLC boosted its holdings in shares of Enphase Energy by 167.8% during the 1st quarter. Renaissance Technologies LLC now owns 943,428 shares of the semiconductor company’s stock valued at $198,384,000 after purchasing an additional 591,200 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Enphase Energy by 86.2% during the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock valued at $161,657,000 after purchasing an additional 370,992 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Enphase Energy by 67.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after purchasing an additional 356,495 shares during the last quarter. Hedge funds and other institutional investors own 71.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ENPH shares. TheStreet lowered Enphase Energy from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. Morgan Stanley lowered their target price on Enphase Energy from $234.00 to $159.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 6th. Truist Financial cut shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $210.00 to $135.00 in a research report on Tuesday. Citigroup lowered their price objective on shares of Enphase Energy from $240.00 to $209.00 and set a “buy” rating for the company in a research report on Friday, July 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Enphase Energy from $224.00 to $199.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.55.

Enphase Energy Trading Up 2.6 %

ENPH traded up $3.16 on Thursday, reaching $122.76. 1,295,189 shares of the company traded hands, compared to its average volume of 3,980,478. The company has a market cap of $16.74 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.23. Enphase Energy, Inc. has a one year low of $118.14 and a one year high of $339.92. The firm has a fifty day simple moving average of $146.34 and a two-hundred day simple moving average of $172.17.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The business had revenue of $711.12 million during the quarter, compared to analyst estimates of $726.94 million. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. As a group, equities research analysts expect that Enphase Energy, Inc. will post 3.77 earnings per share for the current year.

Enphase Energy 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.