Lecap Asset Management Ltd. Purchases Shares of 22,267 Enphase Energy, Inc. (NASDAQ:ENPH)

Lecap Asset Management Ltd. purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the first quarter, according to its most recent filing with the SEC. The fund purchased 22,267 shares of the semiconductor company’s stock, valued at approximately $1,382,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its holdings in Enphase Energy by 94.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,703 shares of the semiconductor company’s stock valued at $1,285,000 after acquiring an additional 10,041 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Enphase Energy by 38.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,188 shares of the semiconductor company’s stock worth $1,129,000 after buying an additional 5,070 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Enphase Energy in the 1st quarter worth about $238,000. Intact Investment Management Inc. bought a new stake in shares of Enphase Energy in the 1st quarter worth about $74,000. Finally, Advisor Resource Council bought a new stake in shares of Enphase Energy in the 1st quarter worth about $229,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Price Performance

Shares of ENPH opened at $38.11 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.77 and a current ratio of 1.90. The stock has a market capitalization of $5.00 billion, a PE ratio of 35.29 and a beta of 1.69. The company has a 50 day moving average price of $44.15 and a 200-day moving average price of $56.98. Enphase Energy, Inc. has a fifty-two week low of $33.01 and a fifty-two week high of $130.08.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the purchase, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENPH. Mizuho set a $53.00 target price on shares of Enphase Energy and gave the stock an “outperform” rating in a report on Monday, June 2nd. TD Cowen reduced their target price on shares of Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to an “underperform” rating in a report on Tuesday, May 13th. Guggenheim restated a “sell” rating and issued a $33.00 target price on shares of Enphase Energy in a report on Wednesday, April 23rd. Finally, BMO Capital Markets restated an “underperform” rating and issued a $39.00 target price (down from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Twelve analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.44.

About Enphase Energy

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.