On August 20, 2023, Skandinaviska Enskilda Banken AB publ announced an increase in its stake in Enphase Energy, Inc., according to its most recent filing with the Securities and Exchange Commission (SEC). The bank now owns 247,301 shares of Enphase Energy’s stock, representing a 15.0% increase from the previous quarter. This additional acquisition boosted the bank’s ownership to 0.18% of Enphase Energy’s total shares, with an estimated value of $52,002,000.
Enphase Energy recently reported its quarterly earnings for the period ending on July 27th. The semiconductor company surpassed analysts’ expectations by posting $1.16 earnings per share for the quarter, beating their consensus estimate of $0.95 by $0.21. In addition to this impressive performance on profitability measures, Enphase Energy demonstrated a return on equity of 71.20% and a net margin of 20.48%. Despite slight revenue fluctuations with $711.12 million compared to analysts’ projected figure of $726.94 million, Enphase Energy achieved remarkable financial results.
In other news related to Enphase Energy’s stocks, Director Richard Mora sold 1,500 shares in a transaction that took place on May 26th with an average price per share of $165.92. This equates to a total transaction value of $248,880. Following this sale, Mora retained 3,126 shares in the company worth approximately $518,665.92 based on its market value at that time.
This noteworthy disclosure was made through a document filed with the SEC and can be accessed via a provided hyperlink for further reference or verification.
It is essential to note that Mora made two separate transactions as director responsibilities require disclosure transparency: both transactions involved selling 1,500 shares at an average price per share of $165.92, totaling $248,880. Following the transactions, Mora’s remaining shares amounted to 3,126 with an approximate market value of $518,665.92.
Furthermore, during another transaction on May 30th, Executive Vice President David A. Ranhoff sold 1,791 shares at an average price per share of $175.10 for a total transaction value of $313,604.10. Subsequently, Ranhoff retained 82,644 shares in the company worth approximately $14,470,964.40 based on their market value.
The details regarding Ranhoff’s stock sale were disclosed through a respective document filed with the Securities and Exchange Commission and can be accessed through a provided link.
It is important to mention that these insider transactions represent only a portion of Enphase Energy’s total stock ownership structure and should not be taken as a complete overview of the company’s financial activities.
As of now, 4.80% of Enphase Energy’s stocks are owned by company insiders – individuals who have access to internal information due to their positions within the organization.
These developments provide valuable insights into Enphase Energy’s financial performance and stock transactions involving company insiders. Investors and stakeholders can utilize this information when making informed decisions regarding their investment strategies in the semiconductor industry.
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Institutional Investors and Analysts Show Interest in Enphase Energy with Increased Stake Holdings and Varied Ratings
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ENPH” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]August 20, 2023 – Enphase Energy, a semiconductor company, has recently seen a number of modifications to its stock holdings by institutional investors and hedge funds. Oppenheimer & Co. Inc., for instance, increased its stake in Enphase Energy by 37.0% during the first quarter. The company now owns 10,263 shares of Enphase Energy’s stock, valued at $2,158,000 after acquiring an additional 2,772 shares in the last quarter.
Private Advisor Group LLC also entered the scene by purchasing a new stake in Enphase Energy during the first quarter, amounting to approximately $608,000. Meanwhile, Kentucky Retirement Systems increased its stake in the company by 0.9%, resulting in ownership of 10,747 shares worth $2,260,000 after acquiring an additional 97 shares. Burney Co. made a similar move during the first quarter by purchasing a new stake valued at around $1,105,000.
Resources Investment Advisors LLC., on the other hand, increased its stake in Enphase Energy by 5.1%. The firm now owns 3,203 shares of the semiconductor company’s stock valued at $674,000 after acquiring an additional 154 shares during the last quarter.
These changes have had an impact on institutional investors’ ownership of Enphase Energy. As of now, approximately 71.94% of the stock is held by these types of investors.
Shares of ENPH traded down $1.10 on August 20th and reached a trading volume of roughly 2,891,619 shares compared to its average volume of 4,561994 shares. Its market capitalization currently stands at $17.77 billion with a price-to-earnings (P/E) ratio of 32.83 and a price-to-earnings-growth (PEG) ratio of 1.48.
The company’s beta, indicating its sensitivity to market fluctuations, is 1.45. Moreover, Enphase Energy has a quick ratio of 3.22 and a current ratio of 3.44, suggesting strong liquidity. Its debt-to-equity ratio stands at 1.23.
Over the past year, Enphase Energy’s stock ranged from a low of $128.56 to a high of $339.92. Currently, the firm’s 50-day moving average is $162.21 while its 200-day moving average is $183.15.
In terms of analyst recommendations for ENPH, Citigroup lowered their price target on the stock from $240 to $209 and gave it a “buy” rating in July 2023. StockNews.com took note of Enphase Energy as they initiated coverage with a “hold” rating earlier this year.
B. Riley also weighed in on the matter by upgrading their rating on Enphase Energy from “neutral” to “buy,” while lowering their target price from $247 to $214 in June 2023 citing valuation concerns.
KeyCorp followed suit by lowering their target price on ENPH from $267 to $200 and maintained an “overweight” rating in their research note published recently. Barclays analysts also decreased their target price from $221 to $155 believing that the stock is appropriately rated relative to its industry peers.
Finally, based on data from Bloomberg, out of the total number of analysts covering Enphase Energy, one has given it a sell rating, eight have given hold ratings, and twenty have rated it as a buy; resulting in an average rating of “Moderate Buy.” The average price target for the company stands at $242.90 according to these analysts’ assessments.
For further analysis on Enphase Energy and its latest developments, interested parties are encouraged to visit our website for more information.
