Enphase Energy, Inc. $ENPH Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp cut its stake in Enphase by 71.4% in Q4, selling 33,114 shares and leaving 13,242 shares valued at about $439,000.
• Insider activity was mixed: Director Thurman J. Rodgers sold 137,250 shares at an average $43.61 (~$5.99M), reducing his holding by 7.91%, while CEO Badrinarayanan Kothandaraman purchased 5,000 shares at $51.98, a modest increase in his position.
• Enphase reported a quarterly EPS beat of $0.71 vs. $0.52 expected and revenue of $343.3M (down 10.3% YoY), and analysts collectively give the stock an average rating of "Hold" with a mean target of $42.07.

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 71.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,242 shares of the semiconductor company's stock after selling 33,114 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Enphase Energy were worth $439,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. PFG Investments LLC grew its holdings in Enphase Energy by 2.2% in the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company's stock valued at $391,000 after purchasing an additional 260 shares during the period. Swiss Life Asset Management Ltd grew its holdings in Enphase Energy by 5.5% in the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company's stock valued at $217,000 after purchasing an additional 319 shares during the period. Glass Jacobson Investment Advisors llc grew its holdings in Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC grew its holdings in Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company's stock valued at $78,000 after purchasing an additional 392 shares during the period. Finally, Tempus Wealth Planning LLC grew its holdings in Enphase Energy by 4.8% in the third quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company's stock valued at $303,000 after purchasing an additional 394 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 137,250 shares of Enphase Energy stock in a transaction that occurred on 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 transaction, the director owned 1,597,641 shares in the company, valued at approximately $69,673,124.01. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $51.98 per share, for a total transaction of $259,900.00. Following the transaction, the chief executive officer owned 1,640,632 shares of the company's stock, valued at $85,280,051.36. This represents a 0.31% increase in their position. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen raised their price objective on Enphase Energy from $35.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Enphase Energy in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price target on Enphase Energy from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. BMO Capital Markets raised Enphase Energy from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $31.00 to $41.00 in a research note on Wednesday, February 4th. Finally, Barclays lowered their price target on Enphase Energy from $35.00 to $31.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 8th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.07.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $36.16 on Friday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $54.43. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 28.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. The business's 50 day moving average price is $39.91 and its 200 day moving average price is $36.34.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.19. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The firm had revenue of $343.32 million for the quarter, compared to the consensus estimate of $340.45 million. During the same quarter last year, the business posted $0.94 earnings per share. The firm's revenue was down 10.3% compared to the same quarter last year. On average, research analysts predict that Enphase Energy, Inc. will post 0.89 EPS for the current year.

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.

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