Teachers Retirement System of The State of Kentucky Has $1.59 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,572 shares of the semiconductor company’s stock after selling 628 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Enphase Energy were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in Enphase Energy by 8.6% in the third quarter. Alliancebernstein L.P. now owns 336,595 shares of the semiconductor company’s stock valued at $50,479,000 after purchasing an additional 26,740 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in Enphase Energy by 2.3% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 27,369 shares of the semiconductor company’s stock worth $4,104,000 after purchasing an additional 607 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Enphase Energy by 1,811.1% in the third quarter. Kistler Tiffany Companies LLC now owns 172 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Enphase Energy by 26.3% in the third quarter. Lord Abbett & CO. LLC now owns 77,587 shares of the semiconductor company’s stock valued at $11,636,000 after acquiring an additional 16,146 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Enphase Energy by 137.3% during the third quarter. Essex Investment Management Co. LLC now owns 30,726 shares of the semiconductor company’s stock valued at $4,608,000 after buying an additional 17,779 shares during the period. 68.01% of the stock is owned by institutional investors and hedge funds.

Enphase Energy stock opened at $142.84 on Friday. Enphase Energy, Inc. has a one year low of $108.88 and a one year high of $282.46. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.33 and a current ratio of 4.49. The business has a fifty day moving average of $209.13 and a two-hundred day moving average of $187.88. The company has a market cap of $19.27 billion, a P/E ratio of 124.21 and a beta of 1.21.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Enphase Energy had a return on equity of 37.82% and a net margin of 13.44%. The business had revenue of $351.52 million during the quarter, compared to analysts’ expectations of $343.77 million. During the same quarter last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 96.9% on a year-over-year basis. Sell-side analysts predict that Enphase Energy, Inc. will post 1.45 EPS for the current year.

In related news, EVP David A. Ranhoff sold 66,272 shares of Enphase Energy stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $244.10, for a total transaction of $16,176,995.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Mora sold 19,000 shares of Enphase Energy stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $229.17, for a total value of $4,354,230.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,932 shares of company stock valued at $44,170,626. Company insiders own 5.00% of the company’s stock.

ENPH has been the topic of several analyst reports. Piper Sandler upped their target price on shares of Enphase Energy from $207.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, January 7th. Craig Hallum upped their target price on shares of Enphase Energy from $175.00 to $186.00 and gave the stock a “hold” rating in a research report on Wednesday, October 27th. They noted that the move was a valuation call. Roth Capital increased their price objective on shares of Enphase Energy from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, November 17th. BMO Capital Markets raised their price target on shares of Enphase Energy from $220.00 to $284.00 and gave the stock an “outperform” rating in a research note on Thursday, November 18th. Finally, Truist Securities raised their price target on shares of Enphase Energy from $250.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, November 17th. Nine investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of “Buy” and an average price target of $241.06.

Enphase Energy Profile

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

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

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