Northwestern Mutual Wealth Management Co. Acquires New Stake in Enphase Energy, Inc. $ENPH

Northwestern Mutual Wealth Management Co. acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,057 shares of the semiconductor company’s stock, valued at approximately $1,431,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock valued at $523,365,000 after purchasing an additional 246,876 shares during the period. Norges Bank purchased a new position in Enphase Energy in the 4th quarter worth about $118,190,000. Invesco Ltd. increased its stake in Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after buying an additional 839,468 shares during the period. Geode Capital Management LLC lifted its holdings in Enphase Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock valued at $80,478,000 after buying an additional 11,220 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after buying an additional 1,283,052 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Mora sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director owned 11,922 shares of the company’s stock, valued at $438,252.72. The trade was a 14.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shanker Trivedi bought 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 4,200 shares of company stock valued at $179,000 in the last three months. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ENPH has been the topic of a number of research analyst reports. Royal Bank Of Canada dropped their target price on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Jefferies Financial Group increased their price objective on Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Citigroup reduced their price objective on Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Morgan Stanley set a $27.00 target price on Enphase Energy in a research report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $45.79.

Enphase Energy Trading Up 0.5%

NASDAQ ENPH opened at $37.35 on Wednesday. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 37.35 and a beta of 1.64. The company’s 50-day simple moving average is $42.26 and its two-hundred day simple moving average is $44.00.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The business had revenue of $291.85 million during the quarter, compared to analysts’ expectations of $289.76 million. During the same period in the previous year, the company posted $0.69 EPS. Enphase Energy’s revenue for the quarter was down 19.6% on a year-over-year basis. Equities analysts forecast that Enphase Energy, Inc. will post 0.76 EPS 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.