794,629 Shares in Enphase Energy, Inc. $ENPH Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 794,629 shares of the semiconductor company’s stock, valued at approximately $39,128,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 514 shares during the last quarter. Activest Wealth Management grew its holdings in shares of Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,040 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy during the 1st quarter worth about $33,000. Burnham & Co LLC acquired a new stake in shares of Enphase Energy during the 2nd quarter worth about $34,000. Finally, Danske Bank A S purchased a new stake in Enphase Energy in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Roth Capital reaffirmed a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Weiss Ratings raised shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Glj Research upped their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the stock a “sell” rating in a report on Tuesday, July 28th. Wells Fargo & Company lowered their price objective on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Finally, TD Cowen cut their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $45.79.

Insider Transactions at Enphase Energy

In related news, Director Richard Mora sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the sale, the director directly owned 11,922 shares in the company, valued at approximately $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were purchased at an average price of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $53,910. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 4,200 shares of company stock valued at $179,000. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy Stock Down 5.1%

Shares of NASDAQ ENPH opened at $37.25 on Friday. The stock has a market cap of $4.92 billion, a P/E ratio of 37.25 and a beta of 1.64. The business’s fifty day simple moving average is $41.51 and its 200-day simple moving average is $43.81. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The company had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, equities analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

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.