Cibc World Market Inc. Invests $711,000 in Enphase Energy, Inc. $ENPH

Cibc World Market Inc. bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the second quarter, Holdings Channel.com reports. The fund bought 14,439 shares of the semiconductor company’s stock, valued at approximately $711,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enphase Energy by 431.9% in the 2nd 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 buying an additional 514 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Enphase Energy by 52,000.0% in the 4th 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. Ascentis Independent Advisors bought a new position in shares of Enphase Energy in the 1st quarter valued at $33,000. Burnham & Co LLC bought a new position in shares of Enphase Energy in the 2nd quarter valued at $34,000. Finally, Danske Bank A S acquired a new position in shares of Enphase Energy during the 3rd quarter worth $39,000. 72.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Enphase Energy news, Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $53,910. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Mora sold 2,000 shares of the stock in a transaction 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 4,200 shares of company stock worth $179,000. 2.90% of the stock is owned by company insiders.

Enphase Energy Price Performance

Shares of ENPH opened at $39.25 on Friday. Enphase Energy, Inc. has a 12-month low of $25.77 and a 12-month high of $73.74. The business has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $43.86. The company has a quick ratio of 2.95, a current ratio of 3.45 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.19 billion, a PE ratio of 39.25 and a beta of 1.64.

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

Analyst Ratings Changes

Several analysts recently weighed in on ENPH shares. Mizuho dropped their price objective on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Citigroup decreased their target price on Enphase Energy from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group boosted their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Susquehanna dropped their target price on shares of Enphase Energy from $45.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Evercore restated a “positive” rating and issued a $41.00 price target on shares of Enphase Energy in a research note on Monday, August 17th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.79.

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.