TD Asset Management Inc Acquires 546 Shares of Enphase Energy, Inc. $ENPH

TD Asset Management Inc grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.3% in the 2nd quarter, Holdings Channel reports. The fund owned 24,080 shares of the semiconductor company’s stock after purchasing an additional 546 shares during the quarter. TD Asset Management Inc’s holdings in Enphase Energy were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 258 shares during the period. SVB Wealth LLC bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $38,000. Brooklyn Investment Group boosted its position in shares of Enphase Energy by 124.7% in the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 368 shares during the period. CX Institutional boosted its position in shares of Enphase Energy by 135.4% in the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 623 shares during the period. Finally, Quarry LP bought a new stake in shares of Enphase Energy in the first quarter valued at approximately $70,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $36.08 on Thursday. Enphase Energy, Inc. has a twelve month low of $29.89 and a twelve month high of $89.95. The firm has a market cap of $4.72 billion, a PE ratio of 28.19 and a beta of 1.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.82 and a current ratio of 1.97. The business has a fifty day moving average of $37.05 and a 200-day moving average of $40.68.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $363.15 million during the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%.The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. On average, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ENPH. Wall Street Zen raised Enphase Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $32.00 target price (down from $77.00) on shares of Enphase Energy in a research report on Wednesday, July 9th. Barclays raised their target price on Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Johnson Rice cut Enphase Energy from a “buy” rating to an “accumulate” rating and set a $45.00 target price for the company. in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $41.00 target price on shares of Enphase Energy in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and thirteen have issued a Sell rating to the stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Reduce” and an average price target of $46.84.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the completion of the transaction, the chief executive officer directly owned 1,620,632 shares in the company, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.

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.