Element Pointe Advisors LLC Acquires New Holdings in Enphase Energy, Inc. $ENPH

Element Pointe Advisors LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,969 shares of the semiconductor company’s stock, valued at approximately $528,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Woodline Partners LP lifted its holdings in shares of Enphase Energy by 37.9% during the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 3,077 shares during the period. Acadian Asset Management LLC bought a new position in Enphase Energy during the 1st quarter worth $121,000. Arrowstreet Capital Limited Partnership bought a new position in Enphase Energy during the 2nd quarter worth $1,299,000. Guggenheim Capital LLC lifted its holdings in Enphase Energy by 14.1% during the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock worth $1,049,000 after buying an additional 3,273 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Enphase Energy by 11.9% during the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock worth $9,468,000 after buying an additional 25,450 shares during the period. 72.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Oppenheimer reduced their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. 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 objective on the stock. TD Cowen reduced their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a report on Monday. Finally, Citigroup decreased their target price on shares of Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.20.

Insider Buying and Selling

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

Enphase Energy Stock Performance

Shares of ENPH opened at $39.46 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.20 billion, a P/E ratio of 39.07 and a beta of 1.62. The firm’s fifty day simple moving average is $51.95 and its two-hundred day simple moving average is $43.60. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. During the same period last year, the business posted $0.68 EPS. The business’s revenue was down 20.6% compared to the same quarter last year. As a group, analysts predict that Enphase Energy, Inc. will post 0.82 EPS for the current 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.