OVERSEA CHINESE BANKING Corp Ltd Boosts Stake in Enphase Energy, Inc. $ENPH

OVERSEA CHINESE BANKING Corp Ltd grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,762 shares of the semiconductor company’s stock after buying an additional 4,692 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Enphase Energy were worth $1,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENPH. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock worth $685,799,000 after buying an additional 2,680,567 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Enphase Energy by 827.3% in the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after buying an additional 1,028,259 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Enphase Energy by 15.5% in the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company’s stock worth $326,664,000 after buying an additional 706,656 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Enphase Energy by 9,236.6% in the first quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company’s stock worth $41,483,000 after acquiring an additional 684,157 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Enphase Energy in the first quarter worth $24,247,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENPH. Weiss Ratings reiterated a “sell (d)” rating on shares of Enphase Energy in a research note on Wednesday, October 8th. Citigroup increased their price objective on shares of Enphase Energy from $30.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Wells Fargo & Company increased their price objective on shares of Enphase Energy from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $32.00 price objective (down previously from $77.00) on shares of Enphase Energy in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and thirteen have issued a Sell rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Reduce” and an average price target of $46.37.

Enphase Energy Stock Up 1.6%

ENPH opened at $36.81 on Tuesday. Enphase Energy, Inc. has a fifty-two week low of $29.89 and a fifty-two week high of $89.95. 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 company has a fifty day moving average of $37.16 and a two-hundred day moving average of $40.17. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 28.76 and a beta of 1.56.

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.