Kentucky Retirement Systems Has $1.25 Million Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Kentucky Retirement Systems decreased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,310 shares of the semiconductor company’s stock after selling 616 shares during the quarter. Kentucky Retirement Systems’ holdings in Enphase Energy were worth $1,247,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank bought a new stake in shares of Enphase Energy in the 4th quarter worth about $149,425,000. Canada Pension Plan Investment Board bought a new stake in shares of Enphase Energy in the 1st quarter worth about $59,128,000. Westfield Capital Management Co. LP bought a new stake in shares of Enphase Energy in the 4th quarter worth about $41,068,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after purchasing an additional 255,175 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Up 1.5 %

ENPH stock traded up $1.82 during mid-day trading on Friday, hitting $119.34. 3,589,529 shares of the company were exchanged, compared to its average volume of 4,535,199. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.78 and a current ratio of 4.23. The firm has a market cap of $16.16 billion, a P/E ratio of 62.16, a P/E/G ratio of 5.82 and a beta of 1.71. The firm’s 50 day simple moving average is $115.31 and its 200 day simple moving average is $115.31. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $175.59.

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

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. B. Riley increased their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Susquehanna increased their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a report on Monday, July 15th. HSBC raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a report on Monday, June 10th. Finally, Bank of America decreased their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $129.70.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Mandy Yang bought 4,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $104.24 per share, with a total value of $416,960.00. Following the completion of the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.