Enphase Energy, Inc. $ENPH Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,510,509 shares of the semiconductor company’s stock after buying an additional 11,220 shares during the quarter. Geode Capital Management LLC owned approximately 1.92% of Enphase Energy worth $80,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Enphase Energy by 334.1% during the 3rd quarter. Principal Financial Group Inc. now owns 626,065 shares of the semiconductor company’s stock worth $22,156,000 after purchasing an additional 481,846 shares during the last quarter. Coatue Management LLC increased its stake in shares of Enphase Energy by 95.3% during the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after purchasing an additional 803,945 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Enphase Energy by 695.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 47,787 shares of the semiconductor company’s stock worth $1,691,000 after purchasing an additional 41,782 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Enphase Energy by 24.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company’s stock worth $36,254,000 after purchasing an additional 200,059 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new position in shares of Enphase Energy during the 3rd quarter worth $1,039,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $56.07 on Monday. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. The firm’s fifty day simple moving average is $43.90 and its 200 day simple moving average is $39.90. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $7.39 billion, a PE ratio of 55.52 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same period last year, the business posted $0.68 EPS. Enphase Energy’s revenue was down 20.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Evercore set a $37.00 price target on shares of Enphase Energy in a research note on Monday, May 4th. UBS Group set a $85.00 price target on shares of Enphase Energy in a research note on Friday, May 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $44.24.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 700 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director directly owned 13,922 shares in the company, valued at approximately $893,792.40. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 137,250 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the completion of the transaction, the director owned 1,597,641 shares in the company, valued at $69,673,124.01. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 138,650 shares of company stock worth $6,062,886. 2.90% of the stock is owned by insiders.

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.