Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Enphase Energy, Inc. $ENPH

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,607 shares of the semiconductor company’s stock, valued at approximately $1,310,000.

Several other institutional investors have also bought and sold shares of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Enphase Energy by 431.9% in the 2nd 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 buying an additional 514 shares during the last quarter. Activest Wealth Management boosted its holdings in Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,040 shares during the last quarter. Ascentis Independent Advisors purchased a new position in Enphase Energy during the 1st quarter worth $33,000. Danske Bank A S bought a new stake in shares of Enphase Energy in the 3rd quarter worth $39,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Enphase Energy in the 4th quarter worth $45,000. Institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ENPH. Roth Capital reissued a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Finally, Evercore restated a “positive” rating and issued a $41.00 target price on shares of Enphase Energy in a research note on Monday. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $45.79.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $38.61 on Friday. The company’s 50-day moving average is $42.82 and its 200 day moving average is $44.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The company has a market capitalization of $5.10 billion, a P/E ratio of 38.61 and a beta of 1.64. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Insider Activity

In related news, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at $111,080,160. The trade was a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 4,200 shares of company stock valued at $179,000 in the last three months. Company insiders own 2.90% of the company’s stock.

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.