California Public Employees Retirement System Reduces Stock Position in Enphase Energy, Inc. $ENPH

California Public Employees Retirement System reduced its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 26.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,845 shares of the semiconductor company’s stock after selling 60,048 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Enphase Energy worth $6,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. PFG Investments LLC grew its holdings in Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 260 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in Enphase Energy by 5.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 319 shares during the period. Glass Jacobson Investment Advisors llc lifted its stake in Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 350 shares in the last quarter. GAMMA Investing LLC lifted its stake in Enphase Energy by 19.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 392 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Enphase Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock valued at $845,000 after purchasing an additional 404 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ENPH shares. UBS Group set a $85.00 price target on shares of Enphase Energy in a research report on Friday, May 22nd. The Goldman Sachs Group lifted their price objective on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Morgan Stanley set a $27.00 target price on Enphase Energy in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, Glj Research reissued a “sell” rating and set a $21.70 price objective on shares of Enphase Energy in a report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.90.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $53,910. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Enphase Energy Price Performance

ENPH stock opened at $36.70 on Monday. The firm has a market cap of $4.84 billion, a P/E ratio of 36.34 and a beta of 1.62. The firm’s fifty day moving average is $51.45 and its 200 day moving average is $43.77. Enphase Energy, Inc. has a 52 week low of $25.77 and a 52 week high of $73.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Research analysts predict that Enphase Energy, Inc. will post 0.82 earnings per share 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.