OVERSEA CHINESE BANKING Corp Ltd Purchases 14,594 Shares of Enphase Energy, Inc. $ENPH

OVERSEA CHINESE BANKING Corp Ltd increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 45.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 46,356 shares of the semiconductor company’s stock after acquiring an additional 14,594 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Enphase Energy were worth $1,692,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in Enphase Energy by 29.4% during the second quarter. ProShare Advisors LLC now owns 55,319 shares of the semiconductor company’s stock valued at $2,193,000 after acquiring an additional 12,577 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Enphase Energy by 74.8% in the second quarter. Quantbot Technologies LP now owns 91,084 shares of the semiconductor company’s stock worth $3,611,000 after purchasing an additional 38,982 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Enphase Energy by 384.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 71,589 shares of the semiconductor company’s stock worth $2,533,000 after purchasing an additional 56,818 shares in the last quarter. Natixis lifted its stake in shares of Enphase Energy by 46.7% in the 2nd quarter. Natixis now owns 215,023 shares of the semiconductor company’s stock valued at $8,526,000 after purchasing an additional 68,472 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Enphase Energy by 2,322.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock worth $34,772,000 after purchasing an additional 840,787 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of ENPH opened at $35.36 on Friday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 24.39 and a beta of 1.35. 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 twelve month low of $25.77 and a twelve month high of $70.78. The firm’s fifty day simple moving average is $31.47 and its 200-day simple moving average is $34.83.

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

Analysts Set New Price Targets

A number of research firms have weighed in on ENPH. Raymond James Financial initiated coverage on Enphase Energy in a report on Monday. They issued a “market perform” rating on the stock. Oppenheimer set a $67.00 price target on Enphase Energy and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. TD Cowen reduced their price target on shares of Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $35.00 target price on shares of Enphase Energy in a report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and thirteen have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $40.39.

Insider Activity

In related news, EVP Mandy Yang sold 6,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $33.01, for a total transaction of $198,060.00. Following the completion of the sale, the executive vice president directly owned 68,987 shares of the company’s stock, valued at $2,277,260.87. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the transaction, the director owned 1,733,596 shares in the company, valued at $50,499,651.48. This trade represents a 7.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.