Aspex Management HK Ltd Makes New $48.44 Million Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Aspex Management HK Ltd purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 428,615 shares of the semiconductor company’s stock, valued at approximately $48,442,000. Enphase Energy makes up 1.3% of Aspex Management HK Ltd’s holdings, making the stock its 18th biggest holding.

Other large investors also recently made changes to their positions in the company. Benjamin Edwards Inc. lifted its position in Enphase Energy by 2.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 93 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after buying an additional 100 shares in the last quarter. Green Alpha Advisors LLC raised its position in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after acquiring an additional 106 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Down 1.4 %

ENPH stock opened at $71.35 on Monday. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The business has a 50-day simple moving average of $86.46 and a 200 day simple moving average of $104.68. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market cap of $9.64 billion, a PE ratio of 162.16, a price-to-earnings-growth ratio of 21.09 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research reports. Northland Securities cut their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Bank of America reduced their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research report on Thursday, November 7th. Truist Financial dropped their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Finally, Citigroup dropped their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.13.

Enphase Energy 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.