First Trust Advisors LP Raises Stock Holdings in Enphase Energy, Inc. $ENPH

First Trust Advisors LP increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 42.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,834,416 shares of the semiconductor company’s stock after acquiring an additional 546,460 shares during the quarter. First Trust Advisors LP’s holdings in Enphase Energy were worth $69,359,000 as of its most recent SEC filing.

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

Insider Activity

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. This represents a 0.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.90% of the company’s stock.

Enphase Energy Trading Down 5.6%

Shares of Enphase Energy stock opened at $36.70 on Friday. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $73.74. The stock’s 50-day simple moving average is $51.45 and its 200 day simple moving average is $43.70. The stock has a market capitalization of $4.84 billion, a P/E ratio of 36.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

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

Analysts Set New Price Targets

ENPH has been the subject of several research reports. Glj Research restated a “sell” rating and set a $21.70 price target on shares of Enphase Energy in a research report on Thursday, June 11th. Wall Street Zen raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Weiss Ratings upgraded shares of Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.90.

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.