Northwestern Mutual Wealth Management Co. Takes $1.43 Million Position in Enphase Energy, Inc. $ENPH

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 29,057 shares of the semiconductor company’s stock, valued at approximately $1,431,000.

Several other large investors have also recently modified their holdings of ENPH. Woodline Partners LP grew its holdings in Enphase Energy by 37.9% in 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 last quarter. Acadian Asset Management LLC purchased a new stake in shares of Enphase Energy during the 1st quarter valued at $121,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Enphase Energy in the 2nd quarter worth $1,299,000. Guggenheim Capital LLC boosted its position in shares of Enphase Energy by 14.1% in the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock worth $1,049,000 after purchasing an additional 3,273 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake 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 last quarter. Institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

ENPH has been the topic of several recent analyst reports. Evercore reaffirmed a “positive” rating and set a $41.00 target price on shares of Enphase Energy in a research report on Monday, August 17th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Jefferies Financial Group boosted their price target on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. The Goldman Sachs Group upped their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Citigroup decreased their price objective on shares of Enphase Energy from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $45.79.

Insider Activity

In other Enphase Energy news, Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the acquisition, the director owned 1,000 shares in the company, valued at $53,910. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Mora sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00. Following the transaction, the director directly owned 11,922 shares of the company’s stock, valued at $438,252.72. This represents a 14.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,200 shares of company stock valued at $179,000. Company insiders own 2.90% of the company’s stock.

Enphase Energy Price Performance

NASDAQ ENPH opened at $37.35 on Wednesday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 37.35 and a beta of 1.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The stock’s fifty day moving average price is $42.26 and its 200 day moving average price is $44.00. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business’s revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

Enphase Energy 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.