ProShare Advisors LLC Trims Stake in Enphase Energy, Inc. $ENPH

ProShare Advisors LLC lessened its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 53.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,822 shares of the semiconductor company’s stock after selling 29,497 shares during the quarter. ProShare Advisors LLC’s holdings in Enphase Energy were worth $914,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Enphase Energy by 28.1% in the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock worth $267,387,000 after acquiring an additional 1,479,153 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Enphase Energy by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,542,878 shares of the semiconductor company’s stock valued at $140,217,000 after acquiring an additional 73,459 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Enphase Energy by 9.6% during the third quarter. Federated Hermes Inc. now owns 1,619,109 shares of the semiconductor company’s stock worth $57,300,000 after purchasing an additional 141,358 shares in the last quarter. Marshall Wace LLP increased its position in shares of Enphase Energy by 56.6% in the second quarter. Marshall Wace LLP now owns 1,047,491 shares of the semiconductor company’s stock worth $41,533,000 after purchasing an additional 378,659 shares during the last quarter. Finally, Norges Bank purchased a new position in Enphase Energy in the 2nd quarter worth approximately $40,946,000. Institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ENPH. Wells Fargo & Company raised their price objective on shares of Enphase Energy from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Roth Mkm restated a “buy” rating and set a $55.00 price target (up previously from $45.00) on shares of Enphase Energy in a research report on Wednesday, February 4th. Citigroup lifted their price target on Enphase Energy from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Loop Capital set a $31.00 price objective on Enphase Energy in a research report on Thursday, October 30th. Finally, Northland Securities raised their price objective on Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $42.70.

Enphase Energy Trading Down 1.5%

NASDAQ ENPH opened at $43.49 on Monday. The firm has a market cap of $5.69 billion, a PE ratio of 33.71 and a beta of 1.37. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $70.78. The stock has a 50-day moving average of $36.84 and a 200-day moving average of $35.08. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.19. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The business had revenue of $343.32 million for the quarter, compared to analyst estimates of $340.45 million. During the same period last year, the company earned $0.94 EPS. Enphase Energy’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity

In other Enphase Energy news, Director Richard Mora sold 1,100 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total value of $57,255.00. Following the transaction, the director owned 9,370 shares in the company, valued at approximately $487,708.50. The trade was a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares of the company’s stock, valued at approximately $2,277,260.87. This trade represents a 8.00% 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 157,100 shares of company stock worth $4,624,815 over the last ninety days. Company insiders own 3.10% of the company’s stock.

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.