Swedbank AB Increases Stake in Enphase Energy, Inc. $ENPH

Swedbank AB boosted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 8.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 525,398 shares of the semiconductor company’s stock after buying an additional 42,047 shares during the period. Swedbank AB’s holdings in Enphase Energy were worth $18,594,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ENPH. Invesco Ltd. increased its position in shares of Enphase Energy by 28.1% during the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after acquiring an additional 1,479,153 shares during the period. Federated Hermes Inc. increased its holdings in Enphase Energy by 264.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock worth $58,593,000 after purchasing an additional 1,072,602 shares during the period. Norges Bank acquired a new stake in Enphase Energy in the 2nd quarter valued at about $40,946,000. Assenagon Asset Management S.A. raised its position in Enphase Energy by 827.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock valued at $45,698,000 after purchasing an additional 1,028,259 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Enphase Energy by 2,322.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock valued at $34,772,000 after buying an additional 840,787 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ENPH. Barclays upped their target price on shares of Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “hold” rating and issued a $41.00 price objective on shares of Enphase Energy in a report on Monday, September 29th. Mizuho cut shares of Enphase Energy from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $37.00 in a research report on Thursday, October 23rd. Citigroup dropped their target price on Enphase Energy from $32.00 to $31.00 and set a “sell” rating on the stock in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price target on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and thirteen have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $39.75.

Enphase Energy Price Performance

Shares of ENPH opened at $33.00 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $76.90. The stock has a market cap of $4.32 billion, a PE ratio of 22.76 and a beta of 1.43. The firm has a fifty day moving average price of $31.23 and a 200 day moving average price of $35.41.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The business had revenue of $410.43 million for the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity

In other news, EVP Mandy Yang sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at approximately $2,277,260.87. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $30.69 per share, for a total transaction of $153,450.00. Following the completion of the transaction, the chief executive officer directly owned 1,635,632 shares in the company, valued at $50,197,546.08. The trade was a 0.31% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.10% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.