The Manufacturers Life Insurance Company Makes New Investment in Enphase Energy, Inc. $ENPH

The Manufacturers Life Insurance Company acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, Holdings Channel reports. The fund acquired 71,298 shares of the semiconductor company’s stock, valued at approximately $3,510,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in Enphase Energy in the 1st quarter valued at about $33,000. Burnham & Co LLC purchased a new stake in Enphase Energy in the 2nd quarter valued at about $34,000. Danske Bank A S acquired a new position in shares of Enphase Energy during the 3rd quarter valued at about $39,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Enphase Energy during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 2.4%

NASDAQ ENPH opened at $35.54 on Wednesday. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week 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. The stock has a market cap of $4.70 billion, a P/E ratio of 35.54 and a beta of 1.65. The company’s fifty day simple moving average is $40.96 and its 200-day simple moving average is $43.58.

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). The business had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. Equities research analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00. Following the transaction, the director directly owned 11,922 shares in the company, valued at $438,252.72. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shanker Trivedi acquired 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ENPH has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price on the stock. Susquehanna dropped their price target on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Mizuho cut their price target on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. The Goldman Sachs Group lifted their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Oppenheimer lowered their price objective on shares of Enphase Energy from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.79.

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.