Federated Hermes Inc. Grows Position in Enphase Energy, Inc. $ENPH

Federated Hermes Inc. increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 264.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,477,751 shares of the semiconductor company’s stock after purchasing an additional 1,072,602 shares during the period. Federated Hermes Inc.’s holdings in Enphase Energy were worth $58,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ENPH. SVB Wealth LLC purchased a new position in Enphase Energy during the first quarter valued at $38,000. Brooklyn Investment Group increased its stake in shares of Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 368 shares in the last quarter. CX Institutional increased its stake in shares of Enphase Energy by 135.4% in the 2nd quarter. CX Institutional now owns 1,083 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 623 shares in the last quarter. Quarry LP purchased a new position in Enphase Energy during the 1st quarter valued at about $70,000. Finally, Manchester Capital Management LLC boosted its stake in Enphase Energy by 24,040.0% during the second quarter. Manchester Capital Management LLC now owns 1,207 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $31.24 on Tuesday. The business’s fifty day simple moving average is $32.34 and its two-hundred day simple moving average is $36.17. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $78.26. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 21.54 and a beta of 1.43.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.30. The firm had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the transaction, the director owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This represents a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $30.93 per share, for a total transaction of $309,300.00. Following the acquisition, the chief executive officer owned 1,630,632 shares in the company, valued at approximately $50,435,447.76. The trade was a 0.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of analyst reports. Susquehanna set a $33.00 target price on shares of Enphase Energy in a research note on Thursday, October 30th. JPMorgan Chase & Co. cut their price target on Enphase Energy from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays raised their price objective on Enphase Energy from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Loop Capital set a $31.00 target price on Enphase Energy in a report on Thursday, October 30th. Finally, Morgan Stanley cut their target price on Enphase Energy from $28.00 to $26.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have assigned a Sell rating to the company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Reduce” and a consensus price target of $39.75.

Enphase Energy Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.