Geode Capital Management LLC Has $80.48 Million Stake in Enphase Energy, Inc. $ENPH

Geode Capital Management LLC grew its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,510,509 shares of the semiconductor company’s stock after buying an additional 11,220 shares during the period. Geode Capital Management LLC’s holdings in Enphase Energy were worth $80,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Stance Capital LLC acquired a new position in shares of Enphase Energy in the third quarter valued at $32,000. Activest Wealth Management raised its stake in shares of Enphase Energy by 52,000.0% in the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Enphase Energy in the third quarter valued at $39,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the transaction, the chief executive officer directly owned 1,645,632 shares in the company, valued at approximately $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 137,250 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $43.61, for a total value of $5,985,472.50. Following the sale, the director owned 1,597,641 shares in the company, valued at approximately $69,673,124.01. This trade represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 138,650 shares of company stock worth $6,062,886 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENPH. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Citigroup decreased their target price on shares of Enphase Energy from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. UBS Group set a $85.00 target price on shares of Enphase Energy in a research report on Friday, May 22nd. Roth Mkm reiterated a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.24.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $56.07 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The firm’s 50-day simple moving average is $43.90 and its 200-day simple moving average is $39.90. Enphase Energy, Inc. has a twelve month low of $25.77 and a twelve month high of $73.74. The firm has a market cap of $7.39 billion, a P/E ratio of 55.52 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. As a group, research analysts expect that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

About Enphase Energy

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.