DekaBank Deutsche Girozentrale Increases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

DekaBank Deutsche Girozentrale grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 73.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,590 shares of the semiconductor company’s stock after acquiring an additional 64,894 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.11% of Enphase Energy worth $16,376,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB bought a new stake in Enphase Energy during the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Norges Bank bought a new position in Enphase Energy during the fourth quarter valued at $149,425,000. Canada Pension Plan Investment Board bought a new position in Enphase Energy during the first quarter valued at $59,128,000. Finally, Robeco Schweiz AG bought a new position in Enphase Energy during the second quarter valued at $31,249,000. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Susquehanna upped their price target on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a report on Monday, July 15th. Royal Bank of Canada decreased their price target on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Barclays decreased their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a report on Monday, June 10th. Finally, BMO Capital Markets increased their price target on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Trading Up 3.9 %

ENPH opened at $109.91 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 57.24, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The firm has a 50 day simple moving average of $112.24 and a 200 day simple moving average of $114.83. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released 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 net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same quarter last year, the company earned $1.16 EPS. The firm’s quarterly revenue was down 57.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

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.