Anomaly Capital Management LP Purchases New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Anomaly Capital Management LP acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 517,322 shares of the semiconductor company’s stock, valued at approximately $51,582,000. Enphase Energy accounts for 2.0% of Anomaly Capital Management LP’s portfolio, making the stock its 21st largest position. Anomaly Capital Management LP owned about 0.38% of Enphase Energy at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Public Sector Pension Investment Board lifted its stake in Enphase Energy by 68.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,221 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 2,129 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Enphase Energy by 165.6% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 664 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 414 shares during the last quarter. ProShare Advisors LLC lifted its stake in Enphase Energy by 8.8% during the second quarter. ProShare Advisors LLC now owns 44,925 shares of the semiconductor company’s stock worth $4,479,000 after purchasing an additional 3,626 shares in the last quarter. Profund Advisors LLC boosted its holdings in Enphase Energy by 13.4% during the 2nd quarter. Profund Advisors LLC now owns 12,331 shares of the semiconductor company’s stock valued at $1,230,000 after acquiring an additional 1,455 shares during the period. Finally, Transatlantique Private Wealth LLC purchased a new position in shares of Enphase Energy in the second quarter valued at approximately $345,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of ENPH stock opened at $114.90 on Monday. The firm has a fifty day moving average of $112.99 and a two-hundred day moving average of $114.48. The firm has a market cap of $15.63 billion, a P/E ratio of 59.84, a P/E/G ratio of 5.84 and a beta of 1.72. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63. 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 posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. As a group, research analysts anticipate that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ENPH. Royal Bank of Canada decreased their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. William Blair initiated coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Guggenheim boosted their price target on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research 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 issued a buy rating to the company. According to MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $128.89.

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.