Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Takes $3.79 Million Position in Enphase Energy, Inc. $ENPH

Key Points

• Mivtachim bought 77,000 Enphase Energy shares worth approximately $3.79 million during the second quarter, giving it a 0.06% stake and making ENPH its 29th-largest holding.
• Institutional investors own 72.12% of Enphase, with major holders including Vanguard, Norges Bank, Invesco, Geode Capital and Handelsbanken Fonder.
• Analysts have a consensus “Hold” rating and an average price target of $45.61. Enphase recently reported quarterly revenue of $291.85 million, above estimates, but earnings of $0.46 per share missed expectations and revenue declined 19.6% year over year.

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,000 shares of the semiconductor company's stock, valued at approximately $3,791,000. Enphase Energy makes up approximately 0.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's investment portfolio, making the stock its 29th largest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned 0.06% of Enphase Energy at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 buying an additional 246,876 shares during the period. Norges Bank bought a new position in Enphase Energy during the fourth quarter worth $118,190,000. Invesco Ltd. boosted its stake in Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock worth $101,244,000 after acquiring an additional 839,468 shares in the last quarter. Geode Capital Management LLC grew its holdings in Enphase Energy by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company's stock worth $80,478,000 after purchasing an additional 11,220 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENPH shares. Susquehanna dropped their price objective on shares of Enphase Energy from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Roth Capital restated a "buy" rating on shares of Enphase Energy in a research note on Friday, May 22nd. Glj Research boosted their target price on Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a research report on Tuesday, July 28th. Morgan Stanley set a $27.00 price target on Enphase Energy in a research note on Friday, May 8th. Finally, Jefferies Financial Group increased their price target on Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and an average target price of $45.61.

Enphase Energy Stock Performance

ENPH opened at $40.48 on Friday. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 40.48 and a beta of 1.64. The company's fifty day moving average price is $44.38 and its two-hundred day moving average price is $44.06. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm's quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, analysts expect that Enphase Energy, Inc. will post 0.78 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the transaction, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Mora sold 2,000 shares of Enphase Energy stock in a transaction dated Thursday, July 30th. The shares were 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 of the company's stock, valued at $438,252.72. This trade represents a 14.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,900 shares of company stock valued at $211,473. 2.90% of the stock is owned by corporate insiders.

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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