Mediolanum International Funds Ltd Purchases Shares of 283,209 Enphase Energy, Inc. $ENPH

Key Points

• Mediolanum International Funds Ltd opened a new position in Enphase Energy, buying 283,209 shares valued at about $10.1 million in the first quarter.
• Enphase Energy recently reported quarterly earnings of $0.47 per share, topping estimates, while revenue came in just above forecasts at $282.9 million even though sales were down 20.6% year over year.
• Insider buying has also been notable, with both a director and the CEO purchasing shares; meanwhile, analysts currently rate the stock a Hold on average with a consensus price target of $47.11.

Mediolanum International Funds Ltd acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 283,209 shares of the semiconductor company's stock, valued at approximately $10,094,000. Mediolanum International Funds Ltd owned about 0.21% of Enphase Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Monaco Asset Management SAM purchased a new position in Enphase Energy during the 4th quarter valued at approximately $2,724,000. Vanguard Group Inc. raised its holdings in shares of Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock worth $523,365,000 after acquiring an additional 246,876 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $2,193,000. M&T Bank Corp boosted its position in shares of Enphase Energy by 319.6% during the 4th quarter. M&T Bank Corp now owns 72,941 shares of the semiconductor company's stock valued at $2,338,000 after acquiring an additional 55,557 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of Enphase Energy by 11.3% during the 4th quarter. Swedbank AB now owns 584,898 shares of the semiconductor company's stock valued at $18,746,000 after acquiring an additional 59,500 shares during the last quarter. Institutional investors own 72.12% of the company's stock.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $41.57 on Monday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 41.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The stock has a 50 day moving average price of $51.92 and a 200-day moving average price of $43.55. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74.

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 the consensus estimate of $0.43 by $0.04. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.27 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.Enphase Energy's quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Equities analysts expect that Enphase Energy, Inc. will post 0.82 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other news, Director Shanker Trivedi acquired 1,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company's stock, valued at approximately $53,910. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. The trade was a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENPH shares. TD Cowen boosted their price target on shares of Enphase Energy from $35.00 to $70.00 and gave the stock a "hold" rating in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Enphase Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 23rd. UBS Group set a $85.00 price objective on shares of Enphase Energy in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. Finally, Citigroup decreased their target price on shares of Enphase Energy from $37.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.11.

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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