Jupiter Topco LLC Acquires New Shares in Enphase Energy, Inc. $ENPH

Jupiter Topco LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 137,420 shares of the semiconductor company’s stock, valued at approximately $6,766,000.

Other institutional investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its holdings in 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 valued at $845,000 after purchasing an additional 404 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of 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 buying an additional 410 shares during the last quarter. Saturna Capital Corp boosted its position in shares of 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 buying an additional 442 shares in the last quarter. Liberty Wealth Management LLC boosted its position in shares of 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 buying an additional 453 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Enphase Energy by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,918 shares of the semiconductor company’s stock valued at $959,000 after acquiring an additional 467 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENPH. Susquehanna dropped their target price on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Evercore reaffirmed a “positive” rating and issued a $41.00 price target on shares of Enphase Energy in a report on Monday, August 17th. Royal Bank Of Canada lowered their price target on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a research note on Friday, May 8th. Finally, TD Cowen cut their price objective 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. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.79.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 2,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at $53,910. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.90% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $37.25 on Monday. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 37.25 and a beta of 1.64. 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 firm has a 50-day moving average price of $41.51 and a 200 day moving average price of $43.77. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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). 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%.Enphase Energy’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. Research analysts forecast that Enphase Energy, Inc. will post 0.76 earnings per share for the current fiscal year.

About Enphase Energy

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.