Enphase Energy, Inc. $ENPH Position Raised by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,397 shares of the semiconductor company’s stock after purchasing an additional 23,041 shares during the quarter. New York State Teachers Retirement System’s holdings in Enphase Energy were worth $4,509,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ENPH. Invesco Ltd. boosted its stake in Enphase Energy by 28.1% during the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock valued at $267,387,000 after buying an additional 1,479,153 shares in the last quarter. Geode Capital Management LLC raised its position in Enphase Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company’s stock worth $140,217,000 after acquiring an additional 73,459 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Enphase Energy by 264.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after acquiring an additional 1,072,602 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Enphase Energy by 827.3% during 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, Marshall Wace LLP grew its stake in shares of Enphase Energy by 56.6% in the 2nd quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock worth $41,533,000 after purchasing an additional 378,659 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman acquired 10,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $30.93 per share, with a total value of $309,300.00. Following the completion of the transaction, the chief executive officer owned 1,630,632 shares of the company’s stock, valued at approximately $50,435,447.76. This trade represents a 0.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thurman J. Rodgers sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the sale, the director owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is owned by corporate insiders.

Enphase Energy Price Performance

ENPH opened at $34.98 on Friday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 24.12 and a beta of 1.35. The stock has a fifty day moving average of $31.56 and a 200-day moving average of $34.80. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $70.78.

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

Wall Street Analyst Weigh In

Several analysts recently commented on ENPH shares. Susquehanna set a $33.00 target price on shares of Enphase Energy in a research note on Thursday, October 30th. Glj Research increased their price objective on Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a research report on Tuesday, September 23rd. Evercore ISI set a $33.00 price objective on Enphase Energy in a research note on Wednesday, October 29th. Barclays lifted their target price on Enphase Energy from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and thirteen have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $40.39.

Enphase Energy 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.