Los Angeles Capital Management LLC Raises Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Los Angeles Capital Management LLC raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 1,911.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,799 shares of the semiconductor company’s stock after buying an additional 113,844 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.09% of Enphase Energy worth $14,493,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ENPH. Kestra Advisory Services LLC grew its holdings in Enphase Energy by 11.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,713 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 486 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Enphase Energy during the 3rd quarter worth about $795,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Enphase Energy in the 3rd quarter valued at about $373,000. Aigen Investment Management LP acquired a new stake in Enphase Energy in the 3rd quarter valued at about $376,000. Finally, Rathbones Group PLC raised its position in Enphase Energy by 20.8% in the 3rd quarter. Rathbones Group PLC now owns 23,114 shares of the semiconductor company’s stock valued at $2,777,000 after purchasing an additional 3,982 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of analyst reports. B. Riley increased their price target on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Company dropped their price objective on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Susquehanna reiterated a “positive” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. BMO Capital Markets dropped their price objective on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Craig Hallum dropped their price objective on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $136.68.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $119.01 on Thursday. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 61.98, a price-to-earnings-growth ratio of 4.58 and a beta of 1.77. The business has a fifty day moving average of $118.17 and a 200-day moving average of $118.06. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $263.34 million during the quarter, compared to analyst estimates of $280.06 million. As a group, analysts predict that Enphase Energy, Inc. will post 1.53 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the sale, the director now owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the sale, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Insiders sold a total of 349,526 shares of company stock valued at $43,721,225 over the last three months. 3.40% of the stock is currently owned by insiders.

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.