First Trust Advisors LP Purchases 31,403 Shares of Enphase Energy, Inc. $ENPH

First Trust Advisors LP boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 3.2% during the second quarter, HoldingsChannel reports. The fund owned 1,000,413 shares of the semiconductor company’s stock after buying an additional 31,403 shares during the quarter. First Trust Advisors LP’s holdings in Enphase Energy were worth $39,666,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. SVB Wealth LLC purchased a new position in shares of Enphase Energy in the first quarter worth about $38,000. Brooklyn Investment Group boosted its holdings in Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after buying an additional 368 shares during the period. CX Institutional boosted its holdings in Enphase Energy by 135.4% in the 2nd quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after buying an additional 623 shares during the period. Manchester Capital Management LLC grew its stake in Enphase Energy by 24,040.0% in the 2nd quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 1,202 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in Enphase Energy by 73.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,610 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 680 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ENPH. Oppenheimer set a $67.00 price target on Enphase Energy and gave the stock an “outperform” rating in a report on Wednesday, October 29th. BMO Capital Markets restated an “underperform” rating and issued a $31.00 target price on shares of Enphase Energy in a research note on Wednesday, October 29th. Susquehanna set a $33.00 price target on Enphase Energy in a research report on Thursday, October 30th. Glj Research raised their price objective on shares of Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a research report on Tuesday, September 23rd. Finally, Loop Capital set a $31.00 target price on shares of Enphase Energy in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Reduce” and a consensus price target of $39.75.

Enphase Energy Stock Up 1.0%

Shares of NASDAQ:ENPH opened at $31.55 on Wednesday. The firm has a market capitalization of $4.13 billion, a PE ratio of 21.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $76.90. The firm has a fifty day moving average of $32.26 and a 200 day moving average of $36.12.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The firm had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $30.69 per share, for a total transaction of $153,450.00. Following the acquisition, the chief executive officer owned 1,635,632 shares in the company, valued at $50,197,546.08. The trade was a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the sale, the director directly owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Enphase Energy 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.