Syon Capital LLC Acquires New Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Syon Capital LLC acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,770 shares of the semiconductor company’s stock, valued at approximately $630,000.

Several other hedge funds have also recently added to or reduced their stakes in ENPH. E Fund Management Co. Ltd. increased its stake in shares of Enphase Energy by 5.5% in the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares during the last quarter. Covestor Ltd increased its stake in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the last quarter. Valley Wealth Managers Inc. increased its stake in shares of Enphase Energy by 12.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,323 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 145 shares during the last quarter. Prosperity Wealth Management Inc. increased its stake in shares of Enphase Energy by 6.3% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 2,520 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 150 shares during the last quarter. Finally, Intact Investment Management Inc. increased its stake in shares of Enphase Energy by 6.5% in the 3rd quarter. Intact Investment Management Inc. now owns 2,450 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 150 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective for the company. Susquehanna reissued a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a research report on Friday, April 5th. StockNews.com cut Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. BMO Capital Markets lowered their target price on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $141.58.

Enphase Energy Stock Performance

ENPH traded up $4.10 during trading on Friday, hitting $111.93. 5,702,982 shares of the stock were exchanged, compared to its average volume of 4,235,068. The firm has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a PEG ratio of 3.16 and a beta of 1.47. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $192.22. The stock has a fifty day moving average price of $118.22 and a two-hundred day moving average price of $111.90. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 1.95 earnings per share for the current year.

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.