Enphase Energy, Inc. $ENPH Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Enphase Energy stake by 37.8% in the first quarter, acquiring 373,212 additional shares. It now owns 1.36 million shares, or 1.03% of the company, while institutional investors collectively hold 72.12%.
• Enphase reported quarterly revenue of $291.85 million, exceeding estimates, but earnings per share of $0.46 slightly missed expectations. Revenue declined 19.6% year over year, and analysts project $0.82 in full-year EPS.
• ENPH opened at $37.54, below its 50-day average of $49.62; analysts maintain a consensus “Hold” rating with an average price target of $45.61. Insiders made recent purchases, including 5,000 shares bought by the CEO, though insiders sold 3,400 shares during the quarter.

Dimensional Fund Advisors LP lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 37.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,361,157 shares of the semiconductor company's stock after buying an additional 373,212 shares during the period. Dimensional Fund Advisors LP owned 1.03% of Enphase Energy worth $51,459,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. PFG Investments LLC lifted its stake in shares of Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company's stock worth $391,000 after purchasing an additional 260 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 350 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Enphase Energy by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company's stock worth $845,000 after purchasing an additional 404 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Enphase Energy by 33.6% in the second quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 410 shares during the period. Finally, Liberty Wealth Management LLC grew its position in shares of Enphase Energy by 0.3% in the fourth quarter. Liberty Wealth Management LLC now owns 130,067 shares of the semiconductor company's stock valued at $4,169,000 after purchasing an additional 453 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Price Performance

ENPH stock opened at $37.54 on Monday. The company has a market cap of $4.96 billion, a PE ratio of 37.54 and a beta of 1.64. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $49.62 and a two-hundred day moving average price of $43.82. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The firm had revenue of $291.85 million during the quarter, compared to analysts' expectations of $289.76 million. During the same quarter last year, the business earned $0.69 earnings per share. The business's revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, research analysts predict that Enphase Energy, Inc. will post 0.82 EPS for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of Enphase Energy stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. This represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shanker Trivedi purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 3,400 shares of company stock worth $150,933. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

ENPH has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Glj Research upped their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a research note on Tuesday, July 28th. BMO Capital Markets cut their price objective on shares of Enphase Energy from $39.00 to $37.00 and set a "market perform" rating on the stock in a report on Wednesday, July 29th. Morgan Stanley set a $27.00 target price on shares of Enphase Energy in a research report on Friday, May 8th. Finally, Evercore set a $37.00 target price on shares of Enphase Energy in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.

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