Highland Capital Management LLC Invests $1.82 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

Highland Capital Management LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) in the 2nd quarter, HoldingsChannel reports. The fund acquired 9,334 shares of the semiconductor company’s stock, valued at approximately $1,822,000.

Several other institutional investors and hedge funds have also made changes to their positions in ENPH. Private Advisor Group LLC boosted its position in shares of Enphase Energy by 61.5% in the 4th quarter. Private Advisor Group LLC now owns 4,387 shares of the semiconductor company’s stock valued at $803,000 after purchasing an additional 1,671 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Enphase Energy by 30.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,651 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 616 shares during the last quarter. American International Group Inc. raised its stake in Enphase Energy by 0.3% during the 4th quarter. American International Group Inc. now owns 43,032 shares of the semiconductor company’s stock valued at $7,872,000 after acquiring an additional 143 shares during the last quarter. Williams Jones Wealth Management LLC. purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $220,000. Finally, Fiduciary Trust Co. raised its stake in shares of Enphase Energy by 9.7% during the 4th quarter. Fiduciary Trust Co. now owns 1,805 shares of the semiconductor company’s stock worth $330,000 after buying an additional 160 shares in the last quarter. 71.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 36,083 shares of Enphase Energy stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $296.52, for a total value of $10,699,331.16. Following the completion of the transaction, the chief executive officer now directly owns 1,095,133 shares in the company, valued at $324,728,837.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Badrinarayanan Kothandaraman sold 36,083 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $296.52, for a total transaction of $10,699,331.16. Following the completion of the transaction, the chief executive officer now directly owns 1,095,133 shares in the company, valued at $324,728,837.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 2,825 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $297.33, for a total value of $839,957.25. Following the transaction, the director now owns 1,600 shares of the company’s stock, valued at $475,728. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,621 shares of company stock worth $48,543,642. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ENPH shares. Barclays started coverage on Enphase Energy in a research note on Friday, August 5th. They set an “equal weight” rating and a $292.00 target price for the company. Truist Financial raised their price objective on Enphase Energy to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. B. Riley raised their price objective on Enphase Energy from $171.00 to $217.00 in a research note on Wednesday, July 27th. BMO Capital Markets increased their target price on Enphase Energy from $215.00 to $240.00 in a report on Friday, June 10th. Finally, Oppenheimer increased their target price on Enphase Energy to $315.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.17.

Enphase Energy Stock Down 6.9 %

NASDAQ:ENPH opened at $283.63 on Friday. The company has a market capitalization of $38.42 billion, a price-to-earnings ratio of 198.34, a price-to-earnings-growth ratio of 2.23 and a beta of 1.51. Enphase Energy, Inc. has a one year low of $113.40 and a one year high of $324.84. The stock has a 50-day simple moving average of $281.26 and a 200 day simple moving average of $217.57. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.35 and a current ratio of 3.62.

Enphase Energy (NASDAQ:ENPHGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The semiconductor company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $530.20 million during the quarter, compared to the consensus estimate of $506.57 million. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. Sell-side analysts predict that Enphase Energy, Inc. will post 2.9 EPS for the current fiscal year.

About Enphase Energy

(Get Rating)

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 services.

Further Reading

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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