Enphase Energy, Inc. $ENPH Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its Enphase Energy stake by 11.3% in the fourth quarter, buying 59,500 more shares and bringing its total to 584,898 shares valued at about $18.7 million.
• Several other institutional investors also added shares, and institutions and hedge funds now own about 72.12% of Enphase Energy.
• Insiders sold shares while analysts stayed cautious: director Thurman J. Rodgers and director Richard Mora both reduced their holdings, while Wall Street’s consensus rating remains “Hold” with an average price target of $40.65.

Swedbank AB boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584,898 shares of the semiconductor company's stock after acquiring an additional 59,500 shares during the quarter. Swedbank AB owned about 0.45% of Enphase Energy worth $18,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Enphase Energy by 118.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,098 shares of the semiconductor company's stock valued at $1,083,000 after acquiring an additional 17,403 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Enphase Energy by 236.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,410 shares of the semiconductor company's stock valued at $173,000 after acquiring an additional 3,800 shares during the last quarter. Activest Wealth Management lifted its holdings 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 valued at $33,000 after acquiring an additional 1,040 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Enphase Energy by 27.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 78,147 shares of the semiconductor company's stock valued at $2,505,000 after acquiring an additional 16,636 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Enphase Energy by 55.3% in the 4th quarter. M&T Bank Corp now owns 27,004 shares of the semiconductor company's stock valued at $866,000 after acquiring an additional 9,620 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 137,250 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the completion of the sale, the director directly owned 1,597,641 shares in the company, valued at approximately $69,673,124.01. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 1,100 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total value of $57,255.00. Following the sale, the director owned 9,370 shares of the company's stock, valued at $487,708.50. The trade was a 10.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $39.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, April 29th. Evercore set a $37.00 price target on shares of Enphase Energy in a report on Monday. Wall Street Zen raised shares of Enphase Energy from a "sell" rating to a "hold" rating in a report on Sunday, March 29th. Roth Mkm reissued a "buy" rating and issued a $55.00 price target (up from $45.00) on shares of Enphase Energy in a report on Wednesday, February 4th. Finally, Susquehanna cut their price target on shares of Enphase Energy from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.65.

Enphase Energy Trading Up 2.8%

NASDAQ:ENPH opened at $36.45 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $54.43. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 36.09 and a beta of 1.26. The stock has a fifty day simple moving average of $38.12 and a 200 day simple moving average of $36.24.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.