Man Group plc Takes $8.39 Million Position in Enphase Energy, Inc. $ENPH

Man Group plc bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 170,337 shares of the semiconductor company's stock, valued at approximately $8,387,000. Man Group plc owned approximately 0.13% of Enphase Energy as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Enphase Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock valued at $523,365,000 after purchasing an additional 246,876 shares in the last quarter. Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $118,190,000. Invesco Ltd. increased its holdings in Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock valued at $101,244,000 after buying an additional 839,468 shares during the period. Geode Capital Management LLC increased its holdings in Enphase Energy by 0.4% in 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 buying an additional 11,220 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Enphase Energy by 154.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock valued at $103,953,000 after buying an additional 1,283,052 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

Analysts Set New Price Targets

ENPH has been the topic of several analyst reports. UBS Group set a $56.00 price target on shares of Enphase Energy in a research report on Wednesday, July 29th. Oppenheimer lowered their price objective on shares of Enphase Energy from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Jefferies Financial Group upped their target price on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Glj Research raised their target price on Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein initiated coverage on Enphase Energy in a research note on Tuesday, June 16th. They issued a "market perform" rating and a $56.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $45.79.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the purchase, the director directly owned 1,000 shares of the company's stock, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 4,200 shares of company stock worth $179,000 over the last three months. Insiders own 2.90% of the company's stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $37.25 on Friday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 37.25 and a beta of 1.64. The firm has a 50 day simple moving average of $41.51 and a 200 day simple moving average of $43.81.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share 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 for the quarter, compared to the consensus estimate of $289.76 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company's revenue was down 19.6% on a year-over-year basis. Research analysts predict 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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