UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Holdings in Enphase Energy, Inc. $ENPH

Key Points

• UBS Asset Management increased its Enphase Energy stake by 10.2% in the second quarter, adding 38,493 shares to own 414,299 shares valued at approximately $20.4 million. Institutional investors collectively hold 72.12% of the company.
• 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. The stock opened at $36.37, below its 50-day and 200-day moving averages.
• Wall Street’s consensus rating is Hold, with nine Buy, eleven Hold, and three Sell ratings and an average price target of $45.79. Insider ownership stands at 2.90%, following one director’s stock sale and another director’s purchase.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 414,299 shares of the semiconductor company's stock after purchasing an additional 38,493 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of Enphase Energy worth $20,400,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Maryland State Retirement & Pension System lifted its holdings in shares of Enphase Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company's stock worth $845,000 after buying an additional 404 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Enphase Energy by 33.6% during the 2nd quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 410 shares during the period. Saturna Capital Corp lifted its stake in Enphase Energy by 4.2% in the 1st quarter. Saturna Capital Corp now owns 10,957 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 442 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in Enphase Energy by 0.3% in the 4th quarter. Liberty Wealth Management LLC now owns 130,067 shares of the semiconductor company's stock worth $4,169,000 after purchasing an additional 453 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Enphase Energy by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,918 shares of the semiconductor company's stock valued at $959,000 after purchasing an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard Mora sold 1,500 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.36, for a total transaction of $60,540.00. Following the transaction, the director owned 10,422 shares of the company's stock, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shanker Trivedi bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the transaction, the director owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is currently owned by corporate insiders.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $36.37 on Friday. The stock's 50-day moving average is $40.27 and its 200 day moving average is $43.42. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 36.37 and a beta of 1.65. 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.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $289.76 million. During the same period in the prior year, the company earned $0.69 EPS. The firm's quarterly revenue was down 19.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of research analyst reports. Roth Capital restated a "buy" rating on shares of Enphase Energy in a research note on Friday, May 22nd. Evercore restated a "positive" rating and issued a $41.00 price objective on shares of Enphase Energy in a research report on Monday, August 17th. Oppenheimer dropped their target price 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. Morgan Stanley set a $27.00 price target on shares of Enphase Energy in a research note on Friday, May 8th. Finally, Glj Research raised their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the company a "sell" rating in a research report on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Hold" and a consensus price target of $45.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.