Millennium Management LLC Has $6.48 Million Holdings in Enphase Energy Inc (ENPH)

Millennium Management LLC lessened its stake in shares of Enphase Energy Inc (NASDAQ:ENPH) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 963,112 shares of the semiconductor company’s stock after selling 63,768 shares during the period. Millennium Management LLC owned 0.99% of Enphase Energy worth $6,482,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Marathon Capital Management acquired a new position in Enphase Energy during the second quarter valued at approximately $1,688,000. BlueMountain Capital Management LLC acquired a new position in Enphase Energy during the second quarter valued at approximately $925,000. Engineers Gate Manager LP acquired a new position in Enphase Energy during the second quarter valued at approximately $227,000. Metropolitan Life Insurance Co. NY acquired a new position in Enphase Energy during the second quarter valued at approximately $202,000. Finally, MetLife Investment Advisors LLC acquired a new position in Enphase Energy during the second quarter valued at approximately $286,000. Institutional investors own 39.17% of the company’s stock.

Shares of ENPH stock opened at $4.60 on Friday. The firm has a market capitalization of $469.71 million, a P/E ratio of -8.52 and a beta of 0.30. Enphase Energy Inc has a one year low of $1.24 and a one year high of $7.60. The company has a debt-to-equity ratio of -1.11, a current ratio of 1.36 and a quick ratio of 1.20.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $75.90 million during the quarter, compared to the consensus estimate of $76.76 million. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. As a group, sell-side analysts predict that Enphase Energy Inc will post -0.08 earnings per share for the current fiscal year.

In other news, CEO Badrinarayanan Kothandaraman bought 15,000 shares of Enphase Energy stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average cost of $4.88 per share, with a total value of $73,200.00. Following the completion of the transaction, the chief executive officer now directly owns 95,677 shares in the company, valued at $466,903.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Branderiz bought 19,880 shares of Enphase Energy stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $5.03 per share, with a total value of $99,996.40. Following the completion of the transaction, the chief financial officer now owns 19,880 shares of the company’s stock, valued at $99,996.40. The disclosure for this purchase can be found here. 13.52% of the stock is owned by company insiders.

Several equities analysts have commented on the company. ValuEngine downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday, July 3rd. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Enphase Energy in a research note on Wednesday, August 1st. BidaskClub downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Finally, B. Riley set a $8.00 price objective on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $7.21.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

Further Reading: The Role of a Fiduciary and Individual Investors

Want to see what other hedge funds are holding ENPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enphase Energy Inc (NASDAQ:ENPH).

Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply