Handelsbanken Fonder AB Buys 1,283,052 Shares of Enphase Energy, Inc. $ENPH

Handelsbanken Fonder AB grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 154.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,111,158 shares of the semiconductor company’s stock after buying an additional 1,283,052 shares during the quarter. Handelsbanken Fonder AB’s holdings in Enphase Energy were worth $103,953,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ENPH. Norges Bank acquired a new position in shares of Enphase Energy during the 4th quarter valued at about $118,190,000. Invesco Ltd. raised 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 valued at $101,244,000 after acquiring an additional 839,468 shares in the last quarter. Sora Investors LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at approximately $25,998,000. Arrowstreet Capital Limited Partnership lifted its holdings in 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 purchasing an additional 765,322 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in Enphase Energy in the 1st quarter worth approximately $27,234,000. Institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Jefferies Financial Group boosted their price objective on shares of Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. TD Cowen decreased their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. Susquehanna lowered their target price on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Oppenheimer lowered their target price on shares of Enphase Energy from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $45.61.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00. Following the sale, the director directly owned 11,922 shares in the company, valued at approximately $438,252.72. The trade was a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased 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 of the company’s stock, valued at $111,080,160. This represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 3,400 shares of company stock valued at $150,933. 2.90% of the stock is owned by corporate insiders.

Enphase Energy Stock Down 2.3%

ENPH stock opened at $40.92 on Tuesday. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $73.74. The company has a market cap of $5.41 billion, a PE ratio of 40.92 and a beta of 1.64. The business’s 50-day simple moving average is $46.41 and its 200 day simple moving average is $44.03. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. During the same period last year, the company earned $0.69 EPS. The company’s revenue was down 19.6% on a year-over-year basis. On average, research analysts anticipate that Enphase Energy, Inc. will post 0.78 earnings per share for the current 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.