Public Employees Retirement System of Ohio Invests $1.89 Million in Enphase Energy, Inc. $ENPH

Public Employees Retirement System of Ohio bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 38,350 shares of the semiconductor company’s stock, valued at approximately $1,888,000.

A number of other large investors have also made changes to their positions in ENPH. Woodline Partners LP grew its position in shares of Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 3,077 shares during the period. Acadian Asset Management LLC bought a new stake in Enphase Energy in the 1st quarter valued at $121,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Enphase Energy in the second quarter worth about $1,299,000. Guggenheim Capital LLC increased its stake in 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 acquiring an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Enphase Energy by 11.9% during the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after purchasing an additional 25,450 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the completion of the transaction, the director owned 10,422 shares in the company, valued at approximately $420,631.92. This trade represents a 12.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shanker Trivedi bought 1,000 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ENPH has been the topic of a number of recent research reports. Weiss Ratings upgraded Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Glj Research lifted their price objective on shares of Enphase Energy from $21.70 to $24.47 and gave the company a “sell” rating in a report on Tuesday, July 28th. TD Cowen decreased their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Evercore reaffirmed a “positive” rating and issued a $41.00 price target on shares of Enphase Energy in a research report on Monday, August 17th. Finally, Mizuho decreased their price objective on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.79.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $36.37 on Monday. The firm has a fifty day simple moving average of $40.27 and a 200-day simple moving average of $43.42. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month 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. The company has a market capitalization of $4.81 billion, a P/E ratio of 36.37 and a beta of 1.65.

Enphase Energy (NASDAQ:ENPH) last posted 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 analysts’ expectations of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, equities research analysts anticipate 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.