Bessemer Group Inc. Boosts Stock Holdings in Enphase Energy, Inc. $ENPH

Bessemer Group Inc. raised its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 5,481.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,974 shares of the semiconductor company’s stock after acquiring an additional 111,932 shares during the quarter. Bessemer Group Inc. owned approximately 0.09% of Enphase Energy worth $4,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Monaco Asset Management SAM purchased a new stake in Enphase Energy in the 4th quarter valued at $2,724,000. Vanguard Group Inc. increased its stake in shares of Enphase Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Enphase Energy during the 1st quarter worth $2,193,000. M&T Bank Corp raised its holdings in shares of Enphase Energy by 319.6% during the 4th quarter. M&T Bank Corp now owns 72,941 shares of the semiconductor company’s stock worth $2,338,000 after acquiring an additional 55,557 shares during the period. Finally, Swedbank AB boosted its position in shares of Enphase Energy by 11.3% during the 4th quarter. Swedbank AB now owns 584,898 shares of the semiconductor company’s stock valued at $18,746,000 after acquiring an additional 59,500 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

In related news, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $53.91 per share, with a total value of $53,910.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $53,910. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $67.50 per share, with a total value of $337,500.00. Following the acquisition, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Glj Research reissued a “sell” rating and issued a $21.70 price objective on shares of Enphase Energy in a report on Thursday, June 11th. Wall Street Zen raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Wells Fargo & Company decreased their target price on shares of Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average price target of $46.20.

Enphase Energy Stock Down 5.1%

Shares of NASDAQ:ENPH opened at $39.46 on Tuesday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 39.07 and a beta of 1.62. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The business has a 50-day moving average price of $51.95 and a 200 day moving average price of $43.60. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. Enphase Energy’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Sell-side analysts expect that Enphase Energy, Inc. will post 0.82 EPS for the current year.

Enphase Energy Company 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.