Mediolanum International Funds Ltd Takes $10.09 Million Position in Enphase Energy, Inc. $ENPH

Mediolanum International Funds Ltd purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 283,209 shares of the semiconductor company’s stock, valued at approximately $10,094,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Enphase Energy during the 4th quarter worth $118,190,000. Invesco Ltd. raised its position in Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after purchasing an additional 839,468 shares in the last quarter. Sora Investors LLC purchased a new stake in shares of Enphase Energy in the 4th quarter worth $25,998,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Enphase Energy by 2,335.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock worth $28,244,000 after buying an additional 765,322 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Enphase Energy during the 4th quarter worth $20,278,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

ENPH opened at $41.57 on Monday. The firm has a market capitalization of $5.48 billion, a PE ratio of 41.16 and a beta of 1.62. 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 business’s 50-day moving average is $51.92 and its two-hundred day moving average is $43.55. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating 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 business had revenue of $282.90 million during the quarter, compared to analyst estimates of $282.27 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 20.6% on a year-over-year basis. Research analysts anticipate that Enphase Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ENPH shares. Roth Capital restated a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. UBS Group set a $85.00 price target on shares of Enphase Energy in a report on Friday, May 22nd. Morgan Stanley set a $27.00 price target on shares of Enphase Energy in a research report on Friday, May 8th. Finally, Evercore set a $37.00 price objective on shares of Enphase Energy in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.11.

Insider Buying and Selling

In other Enphase Energy news, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director directly owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction dated Friday, June 12th. The shares were acquired 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 owned 1,000 shares of the company’s stock, valued at approximately $53,910. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 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.