13,900 Shares in Enphase Energy, Inc. $ENPH Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 13,900 shares of the semiconductor company’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale increased its holdings in Enphase Energy by 0.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $5,421,000 after acquiring an additional 238 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Enphase Energy by 2.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,357 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 255 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Enphase Energy by 83.0% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 258 shares in the last quarter. Empirical Finance LLC increased its holdings in Enphase Energy by 9.1% in the 1st quarter. Empirical Finance LLC now owns 3,996 shares of the semiconductor company’s stock worth $248,000 after acquiring an additional 332 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its holdings in Enphase Energy by 7.1% in the 1st quarter. Cidel Asset Management Inc. now owns 5,070 shares of the semiconductor company’s stock worth $315,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $30.82 per share, with a total value of $154,100.00. Following the completion of the transaction, the chief executive officer directly owned 1,620,632 shares of the company’s stock, valued at $49,947,878.24. This represents a 0.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

Enphase Energy Trading Up 1.7%

Shares of ENPH stock opened at $36.23 on Friday. The company’s 50-day moving average price is $37.14 and its 200-day moving average price is $40.45. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 28.30 and a beta of 1.56. Enphase Energy, Inc. has a twelve month low of $29.89 and a twelve month high of $89.95.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The firm had revenue of $363.15 million for the quarter, compared to analysts’ expectations of $359.14 million. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. As a group, equities analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Susquehanna dropped their target price on shares of Enphase Energy from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Citigroup upped their target price on shares of Enphase Energy from $30.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday. Evercore ISI assumed coverage on shares of Enphase Energy in a report on Monday, October 6th. They set an “in-line” rating and a $40.00 target price for the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $32.00 target price (down previously from $77.00) on shares of Enphase Energy in a report on Wednesday, July 9th. Finally, Glj Research boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and thirteen have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $46.37.

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.