Allianz Asset Management GmbH Buys New Position in Enphase Energy, Inc. $ENPH

Allianz Asset Management GmbH purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 90,398 shares of the semiconductor company's stock, valued at approximately $4,451,000. Allianz Asset Management GmbH owned 0.07% of Enphase Energy as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ENPH. Archer Investment Corp purchased a new stake in shares of Enphase Energy in the 2nd quarter worth about $30,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased 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 buying an additional 514 shares during the period. Burnham & Co LLC purchased a new position in shares of Enphase Energy during the second quarter valued at about $34,000. Continuum Advisory LLC bought a new position in Enphase Energy in the second quarter worth about $42,000. Finally, Ascentis Independent Advisors purchased a new stake in Enphase Energy in the first quarter worth about $33,000. Institutional investors own 72.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENPH. Oppenheimer reaffirmed an "outperform" rating on shares of Enphase Energy in a research report on Tuesday. Mizuho lowered their target price on Enphase Energy from $54.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Roth Capital restated a "buy" rating on shares of Enphase Energy in a research report on Friday, May 22nd. TD Cowen reduced their price target on Enphase Energy from $70.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Finally, BMO Capital Markets reduced their price target on Enphase Energy from $39.00 to $37.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.79.

Insider Transactions at Enphase Energy

In other news, Director Shanker Trivedi bought 1,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the sale, the director owned 11,922 shares in the company, valued at approximately $438,252.72. The trade was a 14.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company's stock.

Enphase Energy Price Performance

Shares of ENPH opened at $38.83 on Wednesday. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The firm's 50-day simple moving average is $39.82 and its two-hundred day simple moving average is $43.31. The stock has a market cap of $5.13 billion, a PE ratio of 38.83 and a beta of 1.65. 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 (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $291.85 million for the quarter, compared to analysts' expectations of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. Enphase Energy's revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. Analysts anticipate that Enphase Energy, Inc. will post 0.76 earnings per share for the current fiscal year.

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.

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