Retirement Systems of Alabama reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 44,377 shares of the semiconductor company’s stock after selling 326 shares during the quarter. Retirement Systems of Alabama’s holdings in Enphase Energy were worth $8,954,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harbor Investment Advisory LLC raised its position in Enphase Energy by 6.6% during the first quarter. Harbor Investment Advisory LLC now owns 2,342 shares of the semiconductor company’s stock worth $473,000 after acquiring an additional 145 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in Enphase Energy during the first quarter worth $4,352,000. Xponance Inc. raised its position in Enphase Energy by 1.1% during the first quarter. Xponance Inc. now owns 22,172 shares of the semiconductor company’s stock worth $4,474,000 after acquiring an additional 252 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in Enphase Energy by 38.5% during the first quarter. Great Valley Advisor Group Inc. now owns 13,423 shares of the semiconductor company’s stock worth $2,707,000 after acquiring an additional 3,730 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in Enphase Energy during the first quarter worth $272,000. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on ENPH shares. Craig Hallum decreased their price objective on shares of Enphase Energy from $241.00 to $213.00 in a report on Wednesday, April 27th. Piper Sandler decreased their price objective on shares of Enphase Energy from $230.00 to $220.00 in a report on Thursday, April 21st. TheStreet upgraded shares of Enphase Energy from a “c+” rating to a “b” rating in a report on Thursday, April 7th. BMO Capital Markets upped their price objective on shares of Enphase Energy from $215.00 to $240.00 in a report on Friday, June 10th. Finally, Credit Suisse Group upped their price objective on shares of Enphase Energy from $163.00 to $174.00 in a report on Thursday, April 28th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.41.
In other news, Director Joseph Ian Malchow sold 12,500 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $188.00, for a total value of $2,350,000.00. Following the completion of the transaction, the director now owns 67,590 shares of the company’s stock, valued at $12,706,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman sold 38,650 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $200.00, for a total transaction of $7,730,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,059,051 shares of the company’s stock, valued at approximately $211,810,200. The disclosure for this sale can be found here. Insiders sold 153,850 shares of company stock valued at $30,289,084 in the last three months. Company insiders own 4.80% of the company’s stock.
Shares of Enphase Energy stock opened at $195.72 on Tuesday. The company has a market capitalization of $26.43 billion, a price-to-earnings ratio of 167.28, a PEG ratio of 2.02 and a beta of 1.37. The company has a quick ratio of 3.22, a current ratio of 3.44 and a debt-to-equity ratio of 3.62. Enphase Energy, Inc. has a 12-month low of $113.40 and a 12-month high of $282.46. The firm’s 50-day moving average price is $178.88 and its two-hundred day moving average price is $170.68.
Enphase Energy (NASDAQ:ENPH – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $441.29 million for the quarter, compared to the consensus estimate of $434.21 million. Enphase Energy had a net margin of 10.88% and a return on equity of 45.30%. During the same period in the prior year, the company posted $0.48 earnings per share. On average, sell-side analysts expect that Enphase Energy, Inc. will post 2.35 earnings per share for the current year.
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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