VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 18,700 Shares of Enphase Energy, Inc. $ENPH

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 134.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,600 shares of the semiconductor company’s stock after purchasing an additional 18,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Enphase Energy were worth $1,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after buying an additional 514 shares during the last quarter. CX Institutional raised its stake in shares of Enphase Energy by 135.4% in the 2nd quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 623 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Enphase Energy by 24,040.0% in the 2nd quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 1,202 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Enphase Energy by 73.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,610 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 680 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in Enphase Energy by 33.6% during the second quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 410 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $30.69 per share, with a total value of $153,450.00. Following the completion of the purchase, the chief executive officer directly owned 1,635,632 shares in the company, valued at $50,197,546.08. The trade was a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the completion of the transaction, the director directly owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Enphase Energy Stock Up 5.3%

ENPH stock opened at $33.75 on Friday. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $76.90. The company has a quick ratio of 1.88, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.42 billion, a PE ratio of 23.28 and a beta of 1.35. The business’s 50-day simple moving average is $30.84 and its 200 day simple moving average is $34.97.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The company had revenue of $410.43 million during the quarter, compared to the consensus estimate of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. On average, research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ENPH shares. Northland Securities boosted their price objective on shares of Enphase Energy from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 29th. Oppenheimer set a $67.00 target price on shares of Enphase Energy and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Citigroup lowered their price target on Enphase Energy from $32.00 to $31.00 and set a “sell” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. Finally, Mizuho downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $50.00 to $37.00 in a research note on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of “Reduce” and a consensus price target of $40.57.

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.