Clearbridge Investments LLC Acquires 61,178 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Clearbridge Investments LLC lifted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 58.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,529 shares of the semiconductor company’s stock after purchasing an additional 61,178 shares during the quarter. Clearbridge Investments LLC owned 0.12% of Enphase Energy worth $16,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB bought a new position in Enphase Energy during the 1st quarter worth $424,130,000. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its position in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares during the period. Anomaly Capital Management LP acquired a new position in Enphase Energy in the second quarter valued at about $51,582,000. Finally, Canada Pension Plan Investment Board bought a new stake in Enphase Energy during the first quarter worth about $59,128,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Enphase Energy stock opened at $105.95 on Friday. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 55.18, a PEG ratio of 6.19 and a beta of 1.72. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The stock’s 50 day moving average price is $113.09 and its two-hundred day moving average price is $114.03.

Enphase Energy (NASDAQ:ENPH) last posted 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). The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. On average, equities analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ENPH. Roth Mkm restated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Wednesday, July 24th. Barclays lowered 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. Morgan Stanley raised their target price on Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target (up previously from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Finally, Glj Research assumed coverage on Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $127.17.

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.