Enphase Energy, Inc. $ENPH Position Lowered by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 58.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,912 shares of the semiconductor company’s stock after selling 18,018 shares during the quarter. New York Life Investment Management LLC’s holdings in Enphase Energy were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Enphase Energy by 431.9% in the 2nd 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 period. Salomon & Ludwin LLC lifted its holdings in shares of Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 761 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Enphase Energy by 199.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 613 shares during the last quarter. Mather Group LLC. bought a new stake in Enphase Energy during the third quarter worth approximately $44,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Enphase Energy by 721.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,248 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 1,096 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

ENPH opened at $43.49 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. The company has a market cap of $5.69 billion, a PE ratio of 33.71 and a beta of 1.37. The stock has a 50-day moving average of $36.84 and a 200-day moving average of $35.07. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $70.78.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. The company had revenue of $343.32 million for the quarter, compared to analyst estimates of $340.45 million. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on ENPH shares. Evercore set a $33.00 price target on shares of Enphase Energy in a research report on Wednesday, October 29th. Mizuho set a $39.00 target price on Enphase Energy in a report on Wednesday, February 4th. Northland Securities lifted their price target on Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 29th. BMO Capital Markets raised Enphase Energy from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $31.00 to $41.00 in a research note on Wednesday, February 4th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $55.00 target price (up previously from $45.00) on shares of Enphase Energy in a research note on Wednesday, February 4th. Nine research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.70.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $51.98 per share, for a total transaction of $259,900.00. Following the transaction, the chief executive officer owned 1,640,632 shares in the company, valued at approximately $85,280,051.36. The trade was a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the sale, the director owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 157,100 shares of company stock worth $4,624,815 in the last three months. Corporate insiders own 3.10% of the company’s stock.

About Enphase Energy

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.