Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,004 shares of the semiconductor company’s stock after buying an additional 4,469 shares during the period. California State Teachers Retirement System owned about 0.17% of Enphase Energy worth $27,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in Enphase Energy during the fourth quarter valued at approximately $26,000. Manchester Capital Management LLC lifted its position in Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its position in Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy during the first quarter worth $35,000. Finally, Addison Advisors LLC lifted its position in shares of Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

Shares of ENPH stock traded up $0.47 during trading hours on Thursday, reaching $115.58. The stock had a trading volume of 316,759 shares, compared to its average volume of 4,164,397. The firm has a 50-day simple moving average of $115.28 and a 200-day simple moving average of $115.30. The firm has a market capitalization of $15.73 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 5.58 and a beta of 1.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $145.50.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENPH shares. BMO Capital Markets boosted their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Bank of America reduced their target price on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Craig Hallum boosted their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Piper Sandler boosted their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.53.

Insider Activity at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

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.