Enphase Energy, Inc. $ENPH Stake Increased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 22.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,397 shares of the semiconductor company’s stock after acquiring an additional 23,041 shares during the period. New York State Teachers Retirement System owned 0.10% of Enphase Energy worth $4,509,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ENPH. Invesco Ltd. increased 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 purchasing an additional 1,479,153 shares during the last quarter. Federated Hermes Inc. grew its stake 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. Norges Bank acquired a new position in Enphase Energy in the second quarter worth about $40,946,000. Assenagon Asset Management S.A. increased 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 valued at $45,698,000 after buying an additional 1,028,259 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Enphase Energy by 2,322.9% during the second quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock valued at $34,772,000 after buying an additional 840,787 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James Financial assumed coverage on Enphase Energy in a report on Monday. They issued a “market perform” rating for the company. Evercore ISI set a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, October 29th. Barclays boosted their target price on shares of Enphase Energy from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday. 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, BMO Capital Markets reaffirmed an “underperform” rating and set a $31.00 price objective on shares of Enphase Energy in a research report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and thirteen have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $40.39.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 150,000 shares of the firm’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 value of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mandy Yang sold 6,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the transaction, 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 SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Enphase Energy Trading Down 1.1%

Shares of NASDAQ:ENPH opened at $34.98 on Friday. 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 $34.80. The company has a market cap of $4.58 billion, a PE ratio of 24.12 and a beta of 1.35. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $70.78.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.60 by $0.30. The firm had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. Enphase Energy’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 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.