Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Makes New Investment in Enphase Energy, Inc. $ENPH

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 77,000 shares of the semiconductor company’s stock, valued at approximately $3,791,000. Enphase Energy comprises approximately 0.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 29th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. 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 worth $33,000 after purchasing an additional 1,040 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in Enphase Energy in the 1st quarter valued at about $33,000. Danske Bank A S purchased a new stake in Enphase Energy in the 3rd quarter valued at about $39,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Enphase Energy in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $67.50 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shanker Trivedi acquired 1,000 shares of the company’s stock in a transaction that occurred 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 purchase, the director owned 1,000 shares of the company’s stock, valued at $53,910. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 4,900 shares of company stock worth $211,473 in the last quarter. Insiders own 2.90% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $40.48 on Friday. The company has a market capitalization of $5.35 billion, a PE ratio of 40.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $73.74. The company has a 50-day simple moving average of $44.38 and a 200 day simple moving average of $44.06.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share 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 during the quarter, compared to analysts’ expectations of $289.76 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue was down 19.6% compared to the same quarter last year. On average, research analysts predict that Enphase Energy, Inc. will post 0.78 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ENPH shares. JPMorgan Chase & Co. cut their target price on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley set a $27.00 target price on Enphase Energy in a report on Friday, May 8th. UBS Group set a $56.00 price target on Enphase Energy in a research report on Wednesday, July 29th. Glj Research lifted their price target on Enphase Energy from $21.70 to $24.47 and gave the stock a “sell” rating in a report on Tuesday, July 28th. Finally, BMO Capital Markets cut their price objective on Enphase Energy from $39.00 to $37.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 29th. Eight 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 company’s stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $45.61.

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.