Norges Bank Makes New $118.19 Million Investment in Enphase Energy, Inc. $ENPH

Norges Bank purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,687,686 shares of the semiconductor company’s stock, valued at approximately $118,190,000. Norges Bank owned 2.82% of Enphase Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENPH. Vanguard Group Inc. increased its stake in shares of Enphase Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock valued at $523,365,000 after acquiring an additional 246,876 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after acquiring an additional 11,220 shares in the last quarter. Coatue Management LLC grew its holdings in Enphase Energy by 95.3% in the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after purchasing an additional 803,945 shares during the period. First Trust Advisors LP grew its holdings in Enphase Energy by 5.0% in the third quarter. First Trust Advisors LP now owns 1,050,158 shares of the semiconductor company’s stock worth $37,165,000 after purchasing an additional 49,745 shares during the period. Finally, Schroder Investment Management Group increased its stake in Enphase Energy by 24.3% in the third quarter. Schroder Investment Management Group now owns 1,024,406 shares of the semiconductor company’s stock valued at $36,254,000 after purchasing an additional 200,059 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 137,250 shares of the stock in a transaction 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 completion of the sale, the director directly owned 1,597,641 shares of the company’s stock, valued at approximately $69,673,124.01. This represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Mora sold 700 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director owned 13,922 shares in the company, valued at approximately $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. Insiders sold a total of 138,650 shares of company stock valued at $6,062,886 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Enphase Energy Stock Down 0.9%

Shares of NASDAQ ENPH opened at $68.39 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The company has a 50-day moving average price of $43.63 and a 200-day moving average price of $39.70. The stock has a market capitalization of $9.01 billion, a P/E ratio of 67.71 and a beta of 1.60. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue was down 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Susquehanna decreased their target price on Enphase Energy from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Oppenheimer dropped their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Barclays cut their price target on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Finally, TD Cowen raised their price objective on Enphase Energy from $35.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $44.24.

Enphase Energy Company 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.