Louisiana State Employees Retirement System Acquires 53,200 Shares of Enphase Energy, Inc. $ENPH

Louisiana State Employees Retirement System grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 771.0% during the third quarter, Holdings Channel reports. The institutional investor owned 60,100 shares of the semiconductor company’s stock after purchasing an additional 53,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Enphase Energy were worth $2,127,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Enphase Energy by 199.7% in the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 613 shares during the last quarter. CX Institutional increased its stake in shares of Enphase Energy by 135.4% in the second quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after buying an additional 623 shares during the period. Finally, Mather Group LLC. bought a new stake in Enphase Energy during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of analyst reports. TD Cowen dropped their target price on shares of Enphase Energy from $40.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. Mizuho downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $37.00 in a research report on Thursday, October 23rd. Citigroup reduced their price objective on Enphase Energy from $32.00 to $31.00 and set a “sell” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Glj Research upped their price target on Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a report on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and thirteen have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $40.31.

Enphase Energy Trading Down 0.6%

Enphase Energy stock opened at $35.22 on Friday. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $70.78. The company has a market cap of $4.61 billion, a P/E ratio of 24.29 and a beta of 1.35. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $31.01 and a two-hundred day simple moving average of $34.91.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The company had revenue of $410.43 million for the quarter, compared to the consensus estimate of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. Analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of the stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $30.93 per share, with a total value of $309,300.00. Following the completion of the acquisition, the chief executive officer directly owned 1,630,632 shares of the company’s stock, valued at $50,435,447.76. This trade represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.10% of the company’s stock.

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.