UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 38,493 Shares of Enphase Energy, Inc. $ENPH

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.2% in the second quarter, HoldingsChannel.com reports. The firm owned 414,299 shares of the semiconductor company’s stock after buying an additional 38,493 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Enphase Energy were worth $20,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in Enphase Energy by 24.7% during the 2nd quarter. Hsbc Holdings PLC now owns 34,105 shares of the semiconductor company’s stock valued at $1,680,000 after buying an additional 6,758 shares during the last quarter. Archer Investment Corp bought a new stake in Enphase Energy in the 2nd quarter worth $30,000. Kimelman & Baird LLC bought a new stake in Enphase Energy in the 2nd quarter worth $10,086,000. North Star Asset Management Inc. purchased a new position in shares of Enphase Energy in the second quarter valued at about $260,000. Finally, Empowered Funds LLC purchased a new position in shares of Enphase Energy in the second quarter valued at about $528,000. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ENPH shares. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $56.00 target price for the company. Morgan Stanley set a $27.00 price target on Enphase Energy in a research report on Friday, May 8th. Jefferies Financial Group increased their price objective on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Barclays upgraded Enphase Energy from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $30.00 to $51.00 in a research report on Thursday, June 18th. Finally, Mizuho reduced their target price on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $45.79.

Enphase Energy Stock Up 0.2%

NASDAQ:ENPH opened at $36.37 on Friday. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74. The firm’s 50-day moving average price is $40.27 and its 200-day moving average price is $43.42. The company has a market capitalization of $4.81 billion, a PE ratio of 36.37 and a beta of 1.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95.

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 company had revenue of $291.85 million during the quarter, compared to the consensus estimate 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 for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other 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 value of $60,540.00. Following the completion of the transaction, the director owned 10,422 shares of the company’s stock, valued at $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were purchased 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 $53,910. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.90% of the company’s stock.

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.