Old West Investment Management LLC acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 15,948 shares of the semiconductor company’s stock, valued at approximately $785,000.
Several other large investors have also recently bought and sold shares of the company. Monaco Asset Management SAM bought a new position in Enphase Energy during the fourth quarter worth about $2,724,000. Handelsbanken Fonder AB grew its stake in Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after acquiring an additional 1,283,052 shares during the period. Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Enphase Energy by 42.4% in the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after acquiring an additional 546,460 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Enphase Energy during the first quarter worth about $2,193,000. Institutional investors own 72.12% of the company’s stock.
Insider Buying and Selling at Enphase Energy
In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. The trade was a 0.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 4,900 shares of company stock worth $211,473. Corporate insiders own 2.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on ENPH
Enphase Energy Stock Performance
ENPH opened at $40.48 on Monday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 40.48 and a beta of 1.64. The business’s 50-day moving average price is $44.38 and its two-hundred day moving average price is $44.10. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74. 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 (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The firm’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. Equities analysts expect that Enphase Energy, Inc. will post 0.78 EPS for the current fiscal year.
About Enphase Energy
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.
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