Summit Global Investments Acquires Shares of 3,000 Enphase Energy, Inc. (NASDAQ:ENPH)

Summit Global Investments acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,000 shares of the semiconductor company’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new stake in shares of Enphase Energy during the 4th quarter valued at $26,000. Manchester Capital Management LLC lifted its position in shares of Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares during the period. Chilton Capital Management LLC lifted its position in shares of Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. YHB Investment Advisors Inc. bought a new stake in shares of Enphase Energy during the 1st quarter valued at $35,000. Finally, Addison Advisors LLC lifted its position in shares of Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group downgraded Enphase Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $111.00 in a research report on Wednesday, April 24th. Oppenheimer upped their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Glj Research initiated coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective for the company. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research report on Monday, June 10th. Finally, Bank of America dropped their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $128.76.

Enphase Energy Trading Up 1.2 %

Shares of ENPH stock traded up $1.46 on Wednesday, hitting $118.44. The company had a trading volume of 1,000,128 shares, compared to its average volume of 4,016,824. The firm has a market cap of $16.12 billion, a P/E ratio of 60.93, a P/E/G ratio of 5.59 and a beta of 1.71. The stock’s 50-day moving average is $110.21 and its two-hundred day moving average is $115.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, equities research analysts anticipate that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the transaction, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

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.