Enphase Energy, Inc. $ENPH Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,619,109 shares of the semiconductor company’s stock after buying an additional 141,358 shares during the period. Federated Hermes Inc.’s holdings in Enphase Energy were worth $57,300,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Enphase Energy by 431.9% in the second 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 last quarter. Salomon & Ludwin LLC increased its stake in Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 761 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Enphase Energy by 199.7% in the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 613 shares during the period. Mather Group LLC. acquired a new position in shares of Enphase Energy in the 3rd quarter valued at $44,000. Finally, Manchester Capital Management LLC lifted its stake in shares of Enphase Energy by 24,040.0% in the 2nd quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 1,202 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 5.5%

NASDAQ ENPH opened at $38.25 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 26.38 and a beta of 1.35. The firm has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $34.56. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $70.78.

Enphase Energy (NASDAQ:ENPH) last released its earnings results 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 analyst estimates of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $30.69 per share, for a total transaction of $153,450.00. Following the acquisition, the chief executive officer directly owned 1,635,632 shares in the company, valued at $50,197,546.08. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mandy Yang sold 6,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the sale, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ENPH shares. BMO Capital Markets reissued an “underperform” rating and set a $31.00 price objective on shares of Enphase Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada lowered their target price on shares of Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. Raymond James Financial assumed coverage on shares of Enphase Energy in a research report on Monday, January 12th. They set a “market perform” rating for the company. Mizuho set a $38.00 price target on shares of Enphase Energy in a research note on Thursday. Finally, Zacks Research cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $41.13.

About Enphase Energy

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.