Legal & General Group Plc Raises Position in Enphase Energy, Inc. $ENPH

Legal & General Group Plc raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 619,881 shares of the semiconductor company’s stock after buying an additional 8,705 shares during the period. Legal & General Group Plc owned approximately 0.47% of Enphase Energy worth $19,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Enphase Energy by 334.1% in the 3rd quarter. Principal Financial Group Inc. now owns 626,065 shares of the semiconductor company’s stock valued at $22,156,000 after buying an additional 481,846 shares during the period. Coatue Management LLC boosted its position in Enphase Energy by 95.3% in the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after buying an additional 803,945 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in Enphase Energy by 695.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 47,787 shares of the semiconductor company’s stock valued at $1,691,000 after buying an additional 41,782 shares during the period. Schroder Investment Management Group boosted its position in Enphase Energy by 24.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company’s stock valued at $36,254,000 after buying an additional 200,059 shares during the period. Finally, Heron Bay Capital Management purchased a new position in Enphase Energy in the 3rd quarter valued at approximately $1,039,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $63.74 on Tuesday. The company’s fifty day moving average price is $41.95 and its 200 day moving average price is $38.85. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The firm has a market capitalization of $8.40 billion, a P/E ratio of 63.11 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same period last year, the business earned $0.68 EPS. Enphase Energy’s revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ENPH. Barclays decreased their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Glj Research set a $21.70 price objective on shares of Enphase Energy in a research report on Thursday, February 5th. Wall Street Zen raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Oppenheimer decreased their price objective on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $44.24.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of Enphase Energy stock in a transaction on Friday, March 13th. The shares were sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the completion of the transaction, the director owned 1,597,641 shares in the company, valued at approximately $69,673,124.01. This represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company 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.