Legal & General Group Plc Makes New Investment in Enphase Energy, Inc. $ENPH

Legal & General Group Plc acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 794,629 shares of the semiconductor company’s stock, valued at approximately $39,128,000. Legal & General Group Plc owned 0.60% of Enphase Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENPH. Maryland State Retirement & Pension System boosted its holdings in 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 valued at $845,000 after purchasing an additional 404 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Enphase Energy by 33.6% during the 2nd quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 410 shares during the last quarter. Saturna Capital Corp lifted its holdings in shares of Enphase Energy by 4.2% in the 1st quarter. Saturna Capital Corp now owns 10,957 shares of the semiconductor company’s stock valued at $414,000 after buying an additional 442 shares during the period. Liberty Wealth Management LLC boosted its stake in shares of Enphase Energy by 0.3% in the fourth quarter. Liberty Wealth Management LLC now owns 130,067 shares of the semiconductor company’s stock worth $4,169,000 after buying an additional 453 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Enphase Energy by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,918 shares of the semiconductor company’s stock worth $959,000 after acquiring an additional 467 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Down 5.1%

Shares of Enphase Energy stock opened at $37.25 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $73.74. The firm has a market capitalization of $4.92 billion, a PE ratio of 37.25 and a beta of 1.64. The firm’s 50-day moving average price is $41.51 and its 200 day moving average price is $43.81.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm had revenue of $291.85 million during the quarter, compared to analysts’ expectations of $289.76 million. During the same quarter last year, the business earned $0.69 EPS. The business’s revenue was down 19.6% compared to the same quarter last year. On average, sell-side analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENPH. Citigroup decreased their price target on Enphase Energy from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group raised their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. BMO Capital Markets decreased their target price on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research note on Wednesday, July 29th. UBS Group set a $56.00 price target on shares of Enphase Energy in a report on Wednesday, July 29th. Finally, Susquehanna dropped their price target on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $45.79.

Insiders Place Their Bets

In other Enphase Energy news, Director Richard Mora sold 2,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the sale, the director owned 11,922 shares in the company, valued at approximately $438,252.72. This represents a 14.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shanker Trivedi bought 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, 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 sold a total of 4,200 shares of company stock worth $179,000 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Enphase Energy Company 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.