Louisiana State Employees Retirement System Buys New Stake in Enphase Energy, Inc. $ENPH

Louisiana State Employees Retirement System purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 58,000 shares of the semiconductor company’s stock, valued at approximately $2,193,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Enphase Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after purchasing an additional 246,876 shares during the period. Norges Bank bought a new stake in shares of Enphase Energy during the 4th quarter worth about $118,190,000. Invesco Ltd. lifted its stake in shares of Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after acquiring an additional 839,468 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock valued at $80,478,000 after acquiring an additional 11,220 shares in the last quarter. Finally, Coatue Management LLC increased its stake in shares of Enphase Energy by 95.3% during the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after acquiring an additional 803,945 shares during the period. 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 Enphase Energy stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the purchase, the director owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. This trade represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ENPH has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Roth Mkm reissued a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Glj Research restated a “sell” rating and issued a $21.70 price objective on shares of Enphase Energy in a report on Thursday, June 11th. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Oppenheimer dropped their price target on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Nine research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.57.

Enphase Energy Stock Up 1.6%

Shares of NASDAQ:ENPH opened at $48.34 on Tuesday. The firm has a 50 day simple moving average of $49.27 and a 200 day simple moving average of $42.42. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. 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 company has a market cap of $6.37 billion, a PE ratio of 47.86 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. 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 company posted $0.68 EPS. As a group, research analysts expect that Enphase Energy, Inc. will post 0.85 earnings per share for the current year.

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.