Canada Pension Plan Investment Board Purchases 16,515 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Canada Pension Plan Investment Board boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 3.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 505,255 shares of the semiconductor company’s stock after purchasing an additional 16,515 shares during the period. Canada Pension Plan Investment Board owned about 0.37% of Enphase Energy worth $50,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. boosted its stake in 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 acquiring an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new position in shares of Enphase Energy during the 1st quarter valued at approximately $424,130,000. Northern Trust Corp increased its stake in shares of Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 11.1% in the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after purchasing an additional 90,558 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $114.90 on Friday. The firm has a market capitalization of $15.63 billion, a PE ratio of 59.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72. The business’s 50-day moving average price is $112.99 and its 200-day moving average price is $114.56. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $141.63.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENPH. Piper Sandler raised their target price on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Canaccord Genuity Group cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America lowered their price target on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $128.89.

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.