Shanker Trivedi Purchases 1,000 Shares of Enphase Energy (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Shanker Trivedi purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $53,910. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $50.26 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The firm has a market cap of $6.62 billion, a PE ratio of 49.76 and a beta of 1.60. The firm has a 50 day simple moving average of $46.17 and a 200-day simple moving average of $41.19. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last announced its 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 analyst estimates of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. Enphase Energy’s revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. On average, equities analysts expect that Enphase Energy, Inc. will post 0.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ENPH shares. Weiss Ratings downgraded Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 5th. Evercore set a $37.00 price target on Enphase Energy in a research note on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Wall Street Zen raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.70.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENPH. Vanguard Group Inc. increased its holdings in Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after purchasing an additional 246,876 shares during the last quarter. Norges Bank purchased a new position in shares of Enphase Energy during the 4th quarter valued at approximately $118,190,000. Invesco Ltd. boosted its stake in shares of Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after buying an additional 839,468 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after buying an additional 11,220 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Enphase Energy by 42.4% during the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after buying an additional 546,460 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.