Enphase Energy, Inc. $ENPH Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 3,456.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,553 shares of the semiconductor company’s stock after buying an additional 29,694 shares during the quarter. Fifth Third Bancorp’s holdings in Enphase Energy were worth $1,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ENPH. Norges Bank acquired a new position in Enphase Energy during the 4th quarter worth approximately $118,190,000. Invesco Ltd. raised its holdings in shares of Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after purchasing an additional 839,468 shares in the last quarter. Sora Investors LLC acquired a new stake in shares of Enphase Energy in the 4th quarter valued at $25,998,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Enphase Energy by 2,335.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock worth $28,244,000 after purchasing an additional 765,322 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Enphase Energy during the 4th quarter worth $20,278,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 12th. Glj Research reaffirmed a “sell” rating and set a $21.70 price target on shares of Enphase Energy in a report on Thursday, June 11th. Evercore set a $37.00 price objective on Enphase Energy in a research report on Monday, May 4th. The Goldman Sachs Group increased their price objective on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, TD Cowen cut their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $46.90.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were bought at an average cost 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by insiders.

Enphase Energy Stock Down 5.6%

Enphase Energy stock opened at $36.70 on Friday. The company has a market capitalization of $4.84 billion, a P/E ratio of 36.34 and a beta of 1.62. 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, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The stock has a 50-day simple moving average of $51.45 and a 200-day simple moving average of $43.70.

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

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.