Swedbank AB Purchases 59,500 Shares of Enphase Energy, Inc. $ENPH

Swedbank AB lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 584,898 shares of the semiconductor company’s stock after acquiring an additional 59,500 shares during the quarter. Swedbank AB’s holdings in Enphase Energy were worth $18,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mizuho Markets Cayman LP increased its holdings in Enphase Energy by 20.6% in the fourth quarter. Mizuho Markets Cayman LP now owns 21,192 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 3,626 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in Enphase Energy in the fourth quarter valued at about $160,000. Leonteq Securities AG bought a new stake in Enphase Energy in the fourth quarter valued at about $3,826,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Enphase Energy in the fourth quarter valued at about $8,541,000. Finally, Handelsbanken Fonder AB increased its holdings in Enphase Energy by 3.3% in the fourth quarter. Handelsbanken Fonder AB now owns 214,071 shares of the semiconductor company’s stock valued at $6,861,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $64.03 on Tuesday. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $64.94. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 63.40 and a beta of 1.26. The stock has a 50-day moving average price of $39.63 and a two-hundred day moving average price of $37.57.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company’s revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that Enphase Energy, Inc. will post 0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. BMO Capital Markets raised Enphase Energy from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $31.00 to $41.00 in a research note on Wednesday, February 4th. Royal Bank Of Canada raised Enphase Energy from a “sector perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Wednesday, February 4th. UBS Group set a $85.00 target price on Enphase Energy in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.78.

Insider Activity

In other news, Director Richard Mora sold 700 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $46.39, for a total transaction of $32,473.00. Following the completion of the transaction, the director directly owned 14,622 shares of the company’s stock, valued at $678,314.58. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $43.61, for a total value of $5,985,472.50. Following the transaction, the director directly owned 1,597,641 shares of the company’s stock, valued at $69,673,124.01. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by corporate insiders.

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.