Neo Ivy Capital Management raised its stake in Enphase Energy Inc (NASDAQ:ENPH) by 44.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,096 shares of the semiconductor company’s stock after buying an additional 2,790 shares during the period. Neo Ivy Capital Management’s holdings in Enphase Energy were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the business. KPCB GGF Associates LLC acquired a new stake in Enphase Energy during the 4th quarter valued at approximately $99,576,000. Symphony Asset Management LLC purchased a new stake in Enphase Energy in the fourth quarter worth $472,000. Renaissance Technologies LLC grew its stake in Enphase Energy by 1,594.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,078,857 shares of the semiconductor company’s stock worth $54,321,000 after purchasing an additional 1,956,157 shares during the period. Navellier & Associates Inc purchased a new stake in Enphase Energy in the fourth quarter worth $1,452,000. Finally, Advisor Group Inc. grew its stake in Enphase Energy by 55.5% in the fourth quarter. Advisor Group Inc. now owns 3,361 shares of the semiconductor company’s stock worth $87,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 56.07% of the company’s stock.
In other news, Director Thurman J. Rodgers sold 1,821,306 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $53.15, for a total transaction of $96,802,413.90. Following the transaction, the director now directly owns 33,039 shares of the company’s stock, valued at $1,756,022.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David A. Ranhoff sold 22,325 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $57.77, for a total value of $1,289,715.25. Following the transaction, the vice president now directly owns 609,778 shares in the company, valued at $35,226,875.06. The disclosure for this sale can be found here. Insiders sold 1,861,631 shares of company stock worth $99,142,429 over the last three months. Corporate insiders own 12.46% of the company’s stock.
Enphase Energy stock traded down $8.52 during mid-day trading on Thursday, hitting $33.21. The company had a trading volume of 8,438,246 shares, compared to its average volume of 9,203,166. The company has a current ratio of 2.51, a quick ratio of 2.35 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $43.20 and its two-hundred day moving average price is $29.47. Enphase Energy Inc has a 12 month low of $8.56 and a 12 month high of $59.15. The company has a market capitalization of $4.43 billion, a PE ratio of 27.45 and a beta of 0.21.
Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 18th. The semiconductor company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.06. Enphase Energy had a return on equity of 62.83% and a net margin of 25.81%. The business had revenue of $210.03 million for the quarter, compared to the consensus estimate of $205.13 million. During the same period in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 127.6% compared to the same quarter last year. Equities research analysts anticipate that Enphase Energy Inc will post 0.97 EPS for the current year.
ENPH has been the topic of several recent research reports. Craig Hallum upped their price target on Enphase Energy from $31.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Cowen upped their price target on Enphase Energy from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target (up from $36.00) on shares of Enphase Energy in a research note on Wednesday, February 19th. Goldman Sachs Group initiated coverage on Enphase Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Northland Securities reaffirmed a “buy” rating and issued a $50.00 price target on shares of Enphase Energy in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.92.
Enphase Energy Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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