International Assets Investment Management LLC Purchases New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

International Assets Investment Management LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,831 shares of the semiconductor company’s stock, valued at approximately $53,950,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. E Fund Management Co. Ltd. increased its stake in shares of Enphase Energy by 5.5% in the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock valued at $303,000 after buying an additional 131 shares in the last quarter. Covestor Ltd raised its stake in shares of Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the last quarter. Valley Wealth Managers Inc. lifted its position in shares of Enphase Energy by 12.3% during the third quarter. Valley Wealth Managers Inc. now owns 1,323 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 145 shares in the last quarter. Prosperity Wealth Management Inc. grew its stake in shares of Enphase Energy by 6.3% during the third quarter. Prosperity Wealth Management Inc. now owns 2,520 shares of the semiconductor company’s stock valued at $303,000 after purchasing an additional 150 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of Enphase Energy by 6.5% in the third quarter. Intact Investment Management Inc. now owns 2,450 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 150 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ENPH shares. Barclays raised Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $115.00 to $134.00 in a report on Friday, April 26th. TD Cowen lifted their price objective on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. B. Riley upped their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.45.

Enphase Energy Trading Up 7.7 %

Shares of NASDAQ:ENPH opened at $114.20 on Friday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The business has a 50 day moving average of $116.24 and a 200-day moving average of $111.28. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The stock has a market cap of $15.54 billion, a PE ratio of 59.48, a P/E/G ratio of 3.76 and a beta of 1.50.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 1.59 earnings per share for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $104.24 per share, with a total value of $416,960.00. Following the acquisition, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the transaction, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 54,285 shares of company stock worth $6,148,228. Corporate insiders own 3.40% of the company’s stock.

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.