Maryland State Retirement & Pension System Buys 19,812 Shares of Enphase Energy, Inc. $ENPH

Maryland State Retirement & Pension System increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 321.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,971 shares of the semiconductor company’s stock after purchasing an additional 19,812 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Enphase Energy were worth $919,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in shares of Enphase Energy by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 8,616 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 369 shares during the period. Mount Vernon Associates Inc. MD increased its position in Enphase Energy by 3.1% during the third quarter. Mount Vernon Associates Inc. MD now owns 13,160 shares of the semiconductor company’s stock valued at $466,000 after acquiring an additional 400 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Enphase Energy by 33.6% in the second quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 410 shares during the period. Harbour Investments Inc. boosted its position in Enphase Energy by 34.8% in the second quarter. Harbour Investments Inc. now owns 1,725 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 445 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in Enphase Energy by 3.0% in the second quarter. Yousif Capital Management LLC now owns 16,796 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENPH. JPMorgan Chase & Co. reduced their price target on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Loop Capital set a $31.00 target price on shares of Enphase Energy in a report on Thursday, October 30th. Morgan Stanley decreased their price target on shares of Enphase Energy from $28.00 to $26.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Northland Securities boosted their price objective on shares of Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $31.00 target price on shares of Enphase Energy in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $40.87.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director owned 1,733,596 shares of the company’s stock, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mandy Yang sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the transaction, the executive vice president directly owned 68,987 shares in the company, valued at approximately $2,277,260.87. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Stock Up 4.2%

ENPH opened at $35.97 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. Enphase Energy, Inc. has a fifty-two week low of $25.77 and a fifty-two week high of $70.78. The firm’s fifty day moving average is $31.78 and its 200 day moving average is $34.61. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 24.81 and a beta of 1.35.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.30. The business had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.Enphase Energy’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal 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.