Swedbank AB Lowers Stock Position in Enphase Energy, Inc. $ENPH

Swedbank AB lessened its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 43.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,379 shares of the semiconductor company’s stock after selling 253,519 shares during the period. Swedbank AB’s holdings in Enphase Energy were worth $12,529,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. PFG Investments LLC lifted its holdings in shares of Enphase Energy by 2.2% during the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 260 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in Enphase Energy by 5.5% during the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 319 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its holdings in Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 350 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 392 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of Enphase Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock worth $845,000 after acquiring an additional 404 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard Mora sold 700 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the transaction, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Shanker Trivedi purchased 1,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.90% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $44.89 on Friday. The company has a 50 day moving average price of $50.88 and a 200-day moving average price of $43.11. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The firm has a market capitalization of $5.92 billion, a PE ratio of 44.45 and a beta of 1.62. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.27 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, equities research analysts expect that Enphase Energy, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ENPH shares. Glj Research reaffirmed a “sell” rating and issued a $21.70 price target on shares of Enphase Energy in a research report on Thursday, June 11th. Barclays upgraded shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $30.00 to $51.00 in a research note on Thursday, June 18th. Sanford C. Bernstein began coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price for the company. Citigroup dropped their target price on shares of Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Jefferies Financial Group increased their price target on shares of Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $46.57.

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.