LGT Fund Management Co Ltd. Buys New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

LGT Fund Management Co Ltd. purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,000 shares of the semiconductor company’s stock, valued at approximately $1,695,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC grew its stake in shares of Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares during the period. Chilton Capital Management LLC boosted its position in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy in the first quarter worth $35,000. TFO Wealth Partners LLC raised its position in shares of Enphase Energy by 6,720.0% during the 4th quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 336 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ENPH shares. Royal Bank of Canada cut their price target on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Canaccord Genuity Group cut their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Roth Mkm reissued a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. Piper Sandler upped their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $128.89.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Stock Performance

Enphase Energy stock opened at $103.04 on Tuesday. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63. The company’s 50-day moving average is $111.44 and its 200 day moving average is $115.16. The firm has a market capitalization of $13.95 billion, a P/E ratio of 53.67, a price-to-earnings-growth ratio of 5.74 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s quarterly revenue was down 57.3% compared to the same quarter last year. Research analysts forecast that Enphase Energy, Inc. will post 1.19 EPS 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.