Enphase Energy, Inc. $ENPH Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 17.3% during the 2nd quarter, Holdings Channel reports. The firm owned 31,762 shares of the semiconductor company’s stock after purchasing an additional 4,692 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Enphase Energy were worth $1,366,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. grew its position in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock valued at $685,799,000 after purchasing an additional 2,680,567 shares during the period. Invesco Ltd. boosted its position in Enphase Energy by 15.5% during the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company’s stock worth $326,664,000 after acquiring an additional 706,656 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Enphase Energy by 827.3% during the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after acquiring an additional 1,028,259 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Enphase Energy by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,011,771 shares of the semiconductor company’s stock worth $62,780,000 after acquiring an additional 74,755 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Enphase Energy by 9,236.6% during the first quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company’s stock worth $41,483,000 after acquiring an additional 684,157 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group restated a “sell” rating and set a $32.00 price target (down from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on shares of Enphase Energy from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Barclays boosted their price target on shares of Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Bank of America lowered their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 23rd. Finally, Zacks Research upgraded shares of Enphase Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and thirteen have issued a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy has an average rating of “Reduce” and a consensus price target of $46.37.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of Enphase Energy stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $30.82 per share, with a total value of $154,100.00. Following the purchase, the chief executive officer owned 1,620,632 shares of the company’s stock, valued at approximately $49,947,878.24. The trade was a 0.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $36.81 on Tuesday. The company’s 50 day simple moving average is $37.16 and its 200-day simple moving average is $40.17. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 28.76 and a beta of 1.56. Enphase Energy, Inc. has a 1 year low of $29.89 and a 1 year high of $89.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.82 and a current ratio of 1.97.

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.