Pacer Advisors Inc. Sells 78,352 Shares of Enphase Energy, Inc. $ENPH

Pacer Advisors Inc. cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633,263 shares of the semiconductor company’s stock after selling 78,352 shares during the quarter. Pacer Advisors Inc.’s holdings in Enphase Energy were worth $22,411,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ENPH. Invesco Ltd. boosted its stake in Enphase Energy by 28.1% during the second quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after acquiring an additional 1,479,153 shares in the last quarter. Geode Capital Management LLC grew its holdings in Enphase Energy by 2.1% in the second 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 period. Federated Hermes Inc. increased its stake in shares of Enphase Energy by 264.7% during the second quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after purchasing an additional 1,072,602 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Enphase Energy by 827.3% during 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 purchasing an additional 1,028,259 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Enphase Energy by 56.6% during the second 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 during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were 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 directly owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. The trade was a 7.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mandy Yang sold 6,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. The trade was a 8.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is owned by insiders.

Enphase Energy Trading Up 0.5%

Enphase Energy stock opened at $33.00 on Friday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $76.90. The business’s fifty day moving average is $31.23 and its 200 day moving average is $35.34. The stock has a market capitalization of $4.32 billion, a PE ratio of 22.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.30. The business had revenue of $410.43 million for 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%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. On average, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ENPH. TD Cowen cut their price target on Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Mizuho downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $50.00 to $37.00 in a report on Thursday, October 23rd. Wall Street Zen cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Finally, Evercore ISI set a $33.00 price target on shares of Enphase Energy in a research note on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Reduce” and a consensus price target of $39.75.

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.