Edgestream Partners L.P. Decreases Stock Holdings in Enphase Energy, Inc. $ENPH

Edgestream Partners L.P. trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 83.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,283 shares of the semiconductor company’s stock after selling 80,539 shares during the period. Edgestream Partners L.P.’s holdings in Enphase Energy were worth $616,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock valued at $523,365,000 after purchasing an additional 246,876 shares during the period. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth approximately $118,190,000. Invesco Ltd. lifted its holdings in Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after buying an additional 839,468 shares during the period. Geode Capital Management LLC grew its position in shares of Enphase Energy by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after buying an additional 11,220 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Enphase Energy by 42.4% in the 1st quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after buying an additional 546,460 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard Mora sold 2,000 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total transaction of $73,520.00. Following the sale, the director owned 11,922 shares in the company, valued at approximately $438,252.72. The trade was a 14.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost 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 in the company, valued at approximately $53,910. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 3,400 shares of company stock worth $150,933. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of a number of recent analyst reports. Morgan Stanley set a $27.00 target price on Enphase Energy in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Wells Fargo & Company reduced their price objective on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 29th. TD Cowen decreased their price objective on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Sanford C. Bernstein started coverage on shares of Enphase Energy in a research report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.61.

Enphase Energy Stock Up 6.3%

Shares of NASDAQ:ENPH opened at $41.81 on Wednesday. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $73.74. The firm has a market capitalization of $5.53 billion, a P/E ratio of 41.81 and a beta of 1.64. The stock has a 50 day moving average price of $48.62 and a 200-day moving average price of $43.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to the consensus estimate of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts anticipate that Enphase Energy, Inc. will post 0.82 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.