Principal Financial Group Inc. Raises Stock Holdings in Enphase Energy, Inc. $ENPH

Principal Financial Group Inc. increased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 79.2% in the first quarter, HoldingsChannel reports. The firm owned 1,112,067 shares of the semiconductor company’s stock after buying an additional 491,488 shares during the quarter. Principal Financial Group Inc.’s holdings in Enphase Energy were worth $42,047,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after buying an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 350 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,040 shares during the period. Ascentis Independent Advisors purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $33,000. Finally, Danske Bank A S acquired a new stake in Enphase Energy during the third quarter worth approximately $39,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENPH has been the subject of several recent analyst reports. Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $30.00 to $51.00 in a research note on Thursday, June 18th. Morgan Stanley set a $27.00 price objective on Enphase Energy in a report on Friday, May 8th. Citigroup lowered their price objective on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Oppenheimer dropped their target price on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $47.11.

Insider Buying and Selling

In other news, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction that occurred on Friday, June 12th. The shares were purchased 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 of the company’s stock, valued at $53,910. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Mora sold 700 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director directly owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. This trade represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $41.57 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 41.16 and a beta of 1.62. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The company has a 50 day moving average price of $51.92 and a 200 day moving average price of $43.48.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results 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 analyst estimates of $282.27 million. During the same quarter last year, the business earned $0.68 EPS. Enphase Energy’s revenue for the quarter was down 20.6% on a year-over-year basis. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.82 EPS for the current year.

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.