Hsbc Holdings PLC Acquires Shares of 34,105 Enphase Energy, Inc. $ENPH

Hsbc Holdings PLC acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPHFree Report) during the second quarter, according to its most recent 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 modified their holdings of the company. Monaco Asset Management SAM acquired a new position in shares of Enphase Energy during the 4th quarter worth about $2,724,000. Handelsbanken Fonder AB raised its position in shares of Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after acquiring an additional 1,283,052 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Enphase Energy by 1.5% during the 4th 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. SIR Capital Management L.P. acquired a new position in Enphase Energy in the second quarter valued at approximately $10,858,000. Finally, First Trust Advisors LP increased its stake in 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 valued at $69,359,000 after purchasing an additional 546,460 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 NASDAQ ENPH opened at $37.25 on Monday. The stock has a fifty day moving average price of $41.51 and a 200 day moving average price of $43.77. 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. The company has a market cap of $4.92 billion, a PE ratio of 37.25 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPHGet Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $291.85 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Sell-side analysts forecast that Enphase Energy, Inc. will post 0.76 EPS for the current year.

Insider Buying and Selling

In other Enphase Energy news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the transaction, the director owned 10,422 shares in the company, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shanker Trivedi bought 1,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director 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 currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ENPH shares. TD Cowen lowered their target price on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 20th. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $30.00 to $51.00 in a report on Thursday, June 18th. Wells Fargo & Company dropped their price target on Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. BMO Capital Markets reduced their price objective on Enphase Energy from $39.00 to $37.00 and set a “market perform” rating for the company in a research note on Wednesday, July 29th. Finally, Morgan Stanley set a $27.00 target price on shares of Enphase Energy in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.79.

View Our Latest Stock Analysis on ENPH

Enphase Energy Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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