Doheny Asset Management CA Takes $8.10 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Doheny Asset Management CA purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,183 shares of the semiconductor company’s stock, valued at approximately $8,095,000. Enphase Energy comprises about 6.3% of Doheny Asset Management CA’s investment portfolio, making the stock its biggest holding. Doheny Asset Management CA owned about 0.06% of Enphase Energy at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ENPH. Vanguard Group Inc. lifted its stake in Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. increased its stake in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Swedbank AB acquired a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $424,130,000. Northern Trust Corp boosted its stake in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares during the last quarter. Finally, Norges Bank acquired a new position in Enphase Energy during the fourth quarter valued at approximately $149,425,000. 72.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were 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 directly owns 107,943 shares in the company, valued at $13,306,133.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ENPH shares. Craig Hallum increased their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America dropped their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley raised their price target on Enphase Energy from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.89.

Enphase Energy Trading Down 5.2 %

Shares of NASDAQ:ENPH opened at $103.04 on Tuesday. The company has a 50-day simple moving average of $111.44 and a 200 day simple moving average of $115.16. 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 company has a market capitalization of $13.95 billion, a P/E ratio of 53.67, a price-to-earnings-growth ratio of 5.74 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.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $303.80 million for 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 company’s revenue was down 57.3% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. Sell-side analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current year.

Enphase Energy Company 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.