Louisiana State Employees Retirement System Buys Shares of 58,000 Enphase Energy, Inc. $ENPH

Louisiana State Employees Retirement System acquired a new position in Enphase Energy, Inc. (NASDAQ:ENPH) during the first quarter, Holdings Channel reports. The institutional investor acquired 58,000 shares of the semiconductor company’s stock, valued at approximately $2,193,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Monaco Asset Management SAM acquired a new stake in shares of Enphase Energy in the 4th quarter valued at $2,724,000. Coatue Management LLC boosted its stake in shares of Enphase Energy by 95.3% during the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after acquiring an additional 803,945 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Enphase Energy by 695.8% during 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 acquiring an additional 41,782 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of 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 acquiring an additional 200,059 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new stake in Enphase Energy in the 3rd quarter worth approximately $1,039,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ENPH shares. TD Cowen increased their price target on Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a report on Friday, May 29th. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price objective for the company. Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Oppenheimer cut their target price 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. Finally, Wells Fargo & Company lowered their price target on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.57.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $48.34 on Tuesday. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $73.74. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.37 billion, a P/E ratio of 47.86 and a beta of 1.59. The company’s 50-day simple moving average is $49.27 and its 200 day simple moving average is $42.42.

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 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 $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. As a group, research analysts forecast that Enphase Energy, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $53,910. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 price of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. This represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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.