Hsbc Holdings PLC Takes $1.68 Million Position in Enphase Energy, Inc. $ENPH

Hsbc Holdings PLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,105 shares of the semiconductor company’s stock, valued at approximately $1,680,000.

Other institutional investors have also recently modified their holdings of the company. Woodline Partners LP boosted its stake in shares of Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 3,077 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Enphase Energy in the 1st quarter worth approximately $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in Enphase Energy in the 2nd quarter worth approximately $1,299,000. Guggenheim Capital LLC raised its holdings in Enphase Energy by 14.1% in the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after acquiring an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Enphase Energy by 11.9% during the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock worth $9,468,000 after purchasing an additional 25,450 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ENPH shares. Royal Bank Of Canada dropped their target price on Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $56.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Enphase Energy from $39.00 to $37.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 29th. Mizuho dropped their price target on shares of Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, UBS Group set a $56.00 price target on shares of Enphase Energy in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $45.79.

Insider Buying and Selling at Enphase Energy

In other news, Director Richard Mora sold 1,500 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director owned 10,422 shares of the company’s stock, valued at $420,631.92. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shanker Trivedi bought 1,000 shares of Enphase Energy stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $53,910. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by corporate insiders.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $37.25 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $73.74. The firm has a market capitalization of $4.92 billion, a P/E ratio of 37.25 and a beta of 1.64. The business’s 50-day simple moving average is $41.51 and its 200-day simple moving average is $43.77.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 business had revenue of $291.85 million during the quarter, compared to analysts’ expectations of $289.76 million. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s quarterly revenue was down 19.6% on a year-over-year basis. Equities analysts predict that Enphase Energy, Inc. will post 0.76 EPS for the current year.

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.