Nordea Investment Management AB Buys 147,146 Shares of Enphase Energy, Inc. $ENPH

Nordea Investment Management AB boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 1,246.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,948 shares of the semiconductor company’s stock after buying an additional 147,146 shares during the period. Nordea Investment Management AB’s holdings in Enphase Energy were worth $5,652,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. raised its position in shares of Enphase Energy by 28.1% in the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after acquiring an additional 1,479,153 shares in the last quarter. Geode Capital Management LLC grew its stake in Enphase Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company’s stock worth $140,217,000 after purchasing an additional 73,459 shares during the period. Federated Hermes Inc. raised its holdings in Enphase Energy by 264.7% in the second quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock worth $58,593,000 after purchasing an additional 1,072,602 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Enphase Energy by 827.3% in the second quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after purchasing an additional 1,028,259 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Enphase Energy by 56.6% during the second quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock valued at $41,533,000 after buying an additional 378,659 shares during the period. 72.12% of the stock is owned by institutional investors.

Insider Activity at Enphase Energy

In other news, EVP Mandy Yang sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the sale, the executive vice president owned 68,987 shares of the company’s stock, valued at $2,277,260.87. This trade represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy 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 sale, the director owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Enphase Energy Trading Down 1.1%

NASDAQ:ENPH opened at $34.98 on Friday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 24.12 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 company’s 50 day moving average price is $31.56 and its 200-day moving average price is $34.75. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $70.78.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The business had revenue of $410.43 million for the quarter, compared to analysts’ expectations of $364.64 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Enphase Energy from $32.00 to $31.00 and set a “sell” rating on the stock in a research report on Wednesday, October 29th. BMO Capital Markets restated an “underperform” rating and issued a $31.00 price objective on shares of Enphase Energy in a report on Wednesday, October 29th. Oppenheimer set a $67.00 target price on shares of Enphase Energy and gave the company an “outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Finally, Glj Research raised their price objective on Enphase Energy from $19.80 to $23.49 and gave the company a “sell” rating in a research report on Tuesday, September 23rd. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and thirteen have issued a Sell rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of “Reduce” and an average price target of $40.39.

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.