Fifth Third Bancorp Boosts Stake in Enphase Energy, Inc. $ENPH

Fifth Third Bancorp increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 3,456.8% during the first quarter, HoldingsChannel reports. The fund owned 30,553 shares of the semiconductor company’s stock after buying an additional 29,694 shares during the period. Fifth Third Bancorp’s holdings in Enphase Energy were worth $1,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in 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 increased its holdings in 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 in the last quarter. Activest Wealth Management increased its holdings in Enphase Energy by 52,000.0% in 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 in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy during the 1st quarter valued at approximately $33,000. Finally, Danske Bank A S acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Morgan Stanley set a $27.00 price objective on Enphase Energy in a report on Friday, May 8th. Roth Capital reiterated a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Weiss Ratings raised Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company dropped their price target on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.90.

Insider Activity

In related news, Director Shanker Trivedi acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the transaction, the director owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $44,940.00. Following the completion of the transaction, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. The trade was a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Enphase Energy Stock Down 5.6%

ENPH stock opened at $36.70 on Friday. 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 company’s 50 day simple moving average is $51.45 and its 200-day simple moving average is $43.70. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The firm has a market capitalization of $4.84 billion, a PE ratio of 36.34 and a beta of 1.62.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities analysts expect that Enphase Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

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.