Baillie Gifford & Co. Cuts Stake in Enphase Energy, Inc. $ENPH

Baillie Gifford & Co. lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,587,853 shares of the semiconductor company’s stock after selling 77,040 shares during the quarter. Baillie Gifford & Co. owned approximately 1.98% of Enphase Energy worth $82,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ENPH. Woodline Partners LP boosted its stake in Enphase Energy by 37.9% in the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after buying an additional 3,077 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Enphase Energy in the first quarter worth approximately $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in Enphase Energy in the second quarter worth approximately $1,299,000. Guggenheim Capital LLC boosted its stake in Enphase Energy by 14.1% in the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock worth $1,049,000 after buying an additional 3,273 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Enphase Energy by 11.9% in the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock worth $9,468,000 after buying an additional 25,450 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $31.40 on Tuesday. The firm has a market cap of $4.14 billion, a PE ratio of 24.34 and a beta of 1.39. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $55.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. The business has a 50 day moving average price of $42.14 and a 200-day moving average price of $36.51.

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

Wall Street Analysts Forecast Growth

ENPH has been the subject of several research reports. Wells Fargo & Company upped their target price on Enphase Energy from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Enphase Energy in a research note on Thursday, January 22nd. Roth Mkm reissued a “buy” rating and set a $55.00 price objective (up from $45.00) on shares of Enphase Energy in a research note on Wednesday, February 4th. Wall Street Zen raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, JPMorgan Chase & Co. increased their price objective on Enphase Energy from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.70.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total transaction of $57,255.00. Following the completion of the transaction, the director owned 9,370 shares in the company, valued at $487,708.50. This represents a 10.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average price of $51.98 per share, with a total value of $259,900.00. Following the acquisition, the chief executive officer owned 1,640,632 shares of the company’s stock, valued at $85,280,051.36. This represents a 0.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is owned by corporate insiders.

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.