Enphase Energy, Inc. $ENPH Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 114.1% during the third quarter, HoldingsChannel.com reports. The firm owned 56,349 shares of the semiconductor company’s stock after buying an additional 30,026 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Enphase Energy were worth $1,994,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Enphase Energy by 28.1% in the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after buying an additional 1,479,153 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Enphase Energy by 2.1% in the 2nd 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 last quarter. Federated Hermes Inc. increased its position in shares of Enphase Energy by 264.7% in the 2nd 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 during the last quarter. Marshall Wace LLP raised its stake in shares of Enphase Energy by 56.6% in the 2nd quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock valued at $41,533,000 after purchasing an additional 378,659 shares in the last quarter. Finally, Norges Bank bought a new stake in Enphase Energy in the second quarter valued at about $40,946,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup raised Enphase Energy from a “sell” rating to a “neutral” rating and increased their target price for the stock from $31.00 to $37.00 in a report on Thursday, January 22nd. Loop Capital set a $31.00 price objective on Enphase Energy in a research note on Thursday, October 30th. Oppenheimer set a $67.00 target price on shares of Enphase Energy and gave the company an “outperform” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of 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, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $35.00 price objective on shares of Enphase Energy in a research report on Wednesday, January 7th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $41.13.

Enphase Energy Trading Up 1.4%

Shares of ENPH stock opened at $40.47 on Thursday. The stock has a fifty day moving average of $32.99 and a two-hundred day moving average of $34.53. The firm has a market capitalization of $5.30 billion, a PE ratio of 27.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $70.78.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The company had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. During the same period in the prior year, the business posted $0.65 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling

In other Enphase Energy news, EVP Mandy Yang sold 6,000 shares of the business’s 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 sale, the executive vice president directly owned 68,987 shares in the company, valued at approximately $2,277,260.87. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of the business’s 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 in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.10% of the stock is owned by corporate insiders.

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.