Swedbank AB Has $18.75 Million Holdings in Enphase Energy, Inc. $ENPH

Key Points

• Swedbank AB increased its Enphase Energy stake by 11.3% in the fourth quarter, buying 59,500 additional shares and bringing its total holding to 584,898 shares worth about $18.75 million.
• Wall Street sentiment remains mixed on ENPH, with analysts trimming some price targets and the stock carrying a consensus rating of “Hold” and a consensus target price of $42.78.
• Enphase Energy’s latest earnings topped expectations, reporting $0.47 EPS versus $0.43 expected, though revenue still fell 20.6% year over year.

Swedbank AB lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 584,898 shares of the semiconductor company's stock after purchasing an additional 59,500 shares during the quarter. Swedbank AB owned approximately 0.45% of Enphase Energy worth $18,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in shares of Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 350 shares in the last quarter. Stance Capital LLC acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $32,000. Activest Wealth Management grew its holdings in shares of Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 72.12% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ENPH shares. JPMorgan Chase & Co. decreased their price objective on Enphase Energy from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft raised their target price on Enphase Energy from $39.00 to $40.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Wells Fargo & Company cut their target price on Enphase Energy from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. TD Cowen cut their target price on Enphase Energy from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group cut their target price on Enphase Energy from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $42.78.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $46.39, for a total value of $32,473.00. Following the completion of the transaction, the director owned 14,622 shares in the company, valued at approximately $678,314.58. The trade was a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of Enphase Energy stock in a transaction on Friday, March 13th. The shares were sold at an average price of $43.61, for a total value of $5,985,472.50. Following the completion of the transaction, the director owned 1,597,641 shares of the company's stock, valued at approximately $69,673,124.01. The trade was a 7.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company's stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $64.03 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The company has a market capitalization of $8.44 billion, a PE ratio of 63.40 and a beta of 1.26. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $64.94. The business has a 50 day simple moving average of $39.63 and a 200 day simple moving average of $37.57.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.Enphase Energy's revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal 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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