Itau Unibanco Holding S.A. Grows Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Itau Unibanco Holding S.A. boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 165.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 664 shares of the semiconductor company’s stock after buying an additional 414 shares during the period. Itau Unibanco Holding S.A.’s holdings in Enphase Energy were worth $66,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in Enphase Energy in the 1st quarter worth about $424,130,000. Baillie Gifford & Co. raised its holdings in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Enphase Energy in the 1st quarter valued at approximately $59,128,000. Robeco Schweiz AG purchased a new stake in Enphase Energy during the 2nd quarter valued at $31,249,000. Finally, Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ENPH shares. Guggenheim increased their price objective on Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research report on Wednesday, July 24th. Barclays reduced their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Glj Research initiated coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Wednesday, July 24th. Finally, Bank of America lowered their price target on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $128.89.

Enphase Energy Trading Down 2.1 %

Enphase Energy stock opened at $114.90 on Monday. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $141.63. The firm’s 50 day moving average price is $112.99 and its 200-day moving average price is $114.48. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock has a market cap of $15.63 billion, a P/E ratio of 59.84, a PEG ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s revenue was down 57.3% on a year-over-year basis. On average, equities analysts predict that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

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.