The Manufacturers Life Insurance Company Takes $3.51 Million Position in Enphase Energy, Inc. $ENPH

The Manufacturers Life Insurance Company purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 71,298 shares of the semiconductor company’s stock, valued at approximately $3,510,000. The Manufacturers Life Insurance Company owned 0.05% of Enphase Energy as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares during the period. Burnham & Co LLC acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at approximately $34,000. Ascentis Independent Advisors acquired a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $33,000. Allworth Financial LP purchased a new stake in shares of Enphase Energy in the second quarter valued at approximately $46,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Enphase Energy in the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Down 2.4%

Shares of Enphase Energy stock opened at $35.54 on Wednesday. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The business has a 50 day moving average price of $40.96 and a 200 day moving average price of $43.58. The company has a market capitalization of $4.70 billion, a P/E ratio of 35.54 and a beta of 1.65.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. During the same quarter last year, the company posted $0.69 EPS. Enphase Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. Sell-side analysts anticipate that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ENPH. Citigroup cut their price objective on Enphase Energy from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Susquehanna cut their price target on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada reduced their price objective on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. TD Cowen decreased their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Finally, Barclays upgraded shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $30.00 to $51.00 in a research report on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.79.

Insiders Place Their Bets

In related news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the transaction, the director owned 10,422 shares of the company’s stock, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $53,910. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.

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.