Enphase Energy, Inc. $ENPH Stock Holdings Lifted by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its Enphase Energy stake by 154.9% in the second quarter, acquiring 1.28 million additional shares and bringing its holdings to 2.11 million shares valued at approximately $104 million. Institutional investors collectively own 72.12% of the company.
• Analysts maintain a generally cautious outlook, with eight Buy, twelve Hold and three Sell ratings. The stock has an average rating of Hold and an average price target of $45.61.
• Enphase reported quarterly revenue of $291.85 million, slightly above expectations, but earnings per share of $0.46 missed estimates and revenue fell 19.6% year over year. Shares opened at $40.92, below their 50-day and 200-day moving averages.

Handelsbanken Fonder AB increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 154.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,111,158 shares of the semiconductor company's stock after acquiring an additional 1,283,052 shares during the quarter. Handelsbanken Fonder AB owned 1.60% of Enphase Energy worth $103,953,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Enphase Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock worth $523,365,000 after purchasing an additional 246,876 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the 4th quarter valued at $118,190,000. Invesco Ltd. raised its stake in Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock valued at $101,244,000 after purchasing an additional 839,468 shares during the period. Geode Capital Management LLC raised its stake in Enphase Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company's stock valued at $80,478,000 after purchasing an additional 11,220 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Enphase Energy by 42.4% in the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company's stock valued at $69,359,000 after purchasing an additional 546,460 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENPH. Mizuho decreased their target price on Enphase Energy from $54.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $39.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Enphase Energy from $39.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, April 30th. UBS Group set a $56.00 price objective on Enphase Energy in a research report on Wednesday, July 29th. Finally, Glj Research lifted their target price on Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a research note on Tuesday, July 28th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $45.61.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $40.92 on Tuesday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 40.92 and a beta of 1.64. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. 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 business has a fifty day simple moving average of $46.41 and a 200 day simple moving average of $44.03.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results 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 net margin of 10.09% and a return on equity of 13.31%. 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 firm earned $0.69 EPS. The business's revenue for the quarter was down 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Mora sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the transaction, the director owned 11,922 shares in the company, valued at approximately $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shanker Trivedi acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $53,910. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 3,400 shares of company stock worth $150,933 in the last three months. 2.90% of the stock is owned by insiders.

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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