PNC Financial Services Group Inc. Has $874,000 Position in Enphase Energy, Inc. $ENPH

PNC Financial Services Group Inc. boosted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 238.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,690 shares of the semiconductor company’s stock after acquiring an additional 17,398 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $874,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 purchasing an additional 514 shares during the last quarter. Salomon & Ludwin LLC increased its position in Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after buying an additional 761 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Enphase Energy by 199.7% during the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 613 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Enphase Energy by 24,040.0% in the second quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock worth $48,000 after buying an additional 1,202 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Enphase Energy during the 3rd quarter worth about $44,000. 72.12% of the stock is owned by institutional investors.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of Enphase Energy stock in a transaction on Thursday, February 5th. The stock was bought at an average price of $51.98 per share, for a total transaction of $259,900.00. Following the transaction, the chief executive officer owned 1,640,632 shares of the company’s stock, valued at $85,280,051.36. The trade was a 0.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mandy Yang sold 6,000 shares of Enphase Energy stock in a transaction that occurred 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 157,100 shares of company stock worth $4,624,815. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ENPH. Barclays raised their price objective on Enphase Energy from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, January 14th. HSBC raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, February 4th. Zacks Research downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Roth Mkm reiterated a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of Enphase Energy in a research note on Wednesday, February 4th. Finally, Loop Capital set a $31.00 target price on shares of Enphase Energy in a research report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.70.

Read Our Latest Stock Analysis on Enphase Energy

Enphase Energy Stock Performance

NASDAQ ENPH opened at $49.74 on Wednesday. The company’s fifty day moving average is $38.83 and its two-hundred day moving average is $35.79. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $67.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 38.56 and a beta of 1.37.

Enphase Energy (NASDAQ:ENPHGet Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The business had revenue of $343.32 million during the quarter, compared to analyst estimates of $340.45 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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Enphase Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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