KBC Group NV Increases Position in Enphase Energy, Inc. $ENPH

KBC Group NV grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 47.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 76,535 shares of the semiconductor company’s stock after buying an additional 24,668 shares during the period. KBC Group NV’s holdings in Enphase Energy were worth $2,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of 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 acquiring an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its holdings in Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 350 shares during the period. Ascentis Independent Advisors purchased a new position in Enphase Energy during the 1st quarter valued at $33,000. Activest Wealth Management grew its position in Enphase Energy by 52,000.0% in the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Danske Bank A S bought a new position in Enphase Energy in the 3rd quarter valued at $39,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Shanker Trivedi bought 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $53,910. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. This represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy Stock Down 5.6%

NASDAQ:ENPH opened at $36.70 on Friday. The company’s 50-day simple moving average is $51.45 and its 200-day simple moving average is $43.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The stock has a market capitalization of $4.84 billion, a P/E ratio of 36.34 and a beta of 1.62.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.27 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, equities analysts anticipate that Enphase Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group lifted their target price on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Susquehanna boosted their price objective on shares of Enphase Energy from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. The Goldman Sachs Group lifted their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. UBS Group set a $85.00 price objective on Enphase Energy in a report on Friday, May 22nd. Finally, Oppenheimer decreased their target price on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $46.90.

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.