Alps Advisors Inc. Has $5.10 Million Position in Enphase Energy, Inc. $ENPH

Alps Advisors Inc. increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 23.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,980 shares of the semiconductor company’s stock after acquiring an additional 26,957 shares during the period. Alps Advisors Inc. owned about 0.11% of Enphase Energy worth $5,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENPH. Envestnet Asset Management Inc. increased its position in Enphase Energy by 53.7% in the third quarter. Envestnet Asset Management Inc. now owns 7,907 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 2,763 shares during the period. Hantz Financial Services Inc. increased its holdings in Enphase Energy by 721.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,248 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 1,096 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Enphase Energy by 13.8% during the third quarter. AGF Management Ltd. now owns 86,379 shares of the semiconductor company’s stock worth $3,057,000 after buying an additional 10,479 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Enphase Energy by 334.1% during the third quarter. Principal Financial Group Inc. now owns 626,065 shares of the semiconductor company’s stock worth $22,156,000 after purchasing an additional 481,846 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Enphase Energy by 156.8% during the 3rd quarter. UMB Bank n.a. now owns 1,461 shares of the semiconductor company’s stock worth $52,000 after buying an additional 892 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Buying and Selling

In other Enphase Energy news, EVP Mandy Yang sold 6,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the transaction, the executive vice president owned 68,987 shares in the company, valued at $2,277,260.87. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This represents a 7.96% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent analyst reports. TD Cowen boosted their price target on Enphase Energy from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Barclays raised their target price on shares of Enphase Energy from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Enphase Energy from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $42.70.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $50.30 on Tuesday. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $70.78. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 38.99 and a beta of 1.37. The company has a 50-day simple moving average of $35.53 and a 200 day simple moving average of $34.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The firm had revenue of $343.32 million during the quarter, compared to the consensus estimate of $340.45 million. During the same period last year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current 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.