Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 15,610,036 Shares of Enphase Energy, Inc. $ENPH

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 99.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 32,361 shares of the semiconductor company’s stock after selling 15,610,036 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Enphase Energy were worth $1,224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENPH. Norges Bank bought a new position in shares of Enphase Energy in the fourth quarter worth approximately $118,190,000. Invesco Ltd. lifted its holdings 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 period. Sora Investors LLC purchased a new position in shares of Enphase Energy in the fourth quarter worth approximately $25,998,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Enphase Energy by 2,335.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock worth $28,244,000 after buying an additional 765,322 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Enphase Energy during the 4th quarter valued at $20,278,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enphase Energy

In other news, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENPH. Jefferies Financial Group boosted their target price on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a research note on Friday, May 8th. Weiss Ratings raised Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Citigroup decreased their target price on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, UBS Group set a $85.00 target price on Enphase Energy in a research report on Friday, May 22nd. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.11.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $41.57 on Friday. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 41.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74. The company’s 50-day moving average is $51.92 and its two-hundred day moving average is $43.48.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $282.27 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. Analysts forecast that Enphase Energy, Inc. will post 0.82 EPS 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.