Enphase Energy, Inc. (NASDAQ:ENPH) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 39,515 shares of the semiconductor company’s stock after purchasing an additional 2,300 shares during the period. State of Michigan Retirement System’s holdings in Enphase Energy were worth $3,940,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ENPH. Bogart Wealth LLC acquired a new stake in Enphase Energy during the fourth quarter worth approximately $26,000. Manchester Capital Management LLC increased its holdings in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $35,000. Finally, TFO Wealth Partners LLC lifted its holdings in Enphase Energy by 6,720.0% in the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after acquiring an additional 336 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Canaccord Genuity Group decreased their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Craig Hallum raised their price objective on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America decreased their target price on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Finally, BMO Capital Markets raised their price target on Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $128.76.

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 stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Enphase Energy Trading Down 3.0 %

Enphase Energy stock traded down $3.69 during trading on Tuesday, reaching $118.90. The company had a trading volume of 314,400 shares, compared to its average volume of 3,968,600. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. 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 stock’s 50 day moving average price is $109.62 and its two-hundred day moving average price is $116.04. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 5.59 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share 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 analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. As a group, equities analysts expect that Enphase Energy, Inc. will post 1.24 earnings per share for the current fiscal year.

About Enphase Energy

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.