OVERSEA CHINESE BANKING Corp Ltd Has $1.69 Million Stock Position in Enphase Energy, Inc. $ENPH

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

Several other hedge funds have also recently added to or reduced their stakes in ENPH. Woodline Partners LP boosted its stake in shares of Enphase Energy by 37.9% in the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 3,077 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Enphase Energy during the first quarter valued at $121,000. Czech National Bank boosted its position in Enphase Energy by 5.3% during the second quarter. Czech National Bank now owns 32,060 shares of the semiconductor company’s stock valued at $1,271,000 after acquiring an additional 1,624 shares during the last quarter. Fermata Advisors LLC grew its holdings in Enphase Energy by 5.8% during the 2nd quarter. Fermata Advisors LLC now owns 7,330 shares of the semiconductor company’s stock worth $291,000 after acquiring an additional 400 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Enphase Energy in the 2nd quarter worth about $824,000. Institutional investors own 72.12% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the topic of several research analyst reports. Mizuho lowered Enphase Energy from an “outperform” rating to a “neutral” rating and cut their target price for the company from $50.00 to $37.00 in a research report on Thursday, October 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Enphase Energy in a report on Wednesday, October 8th. Raymond James Financial initiated coverage on shares of Enphase Energy in a research note on Monday. They issued a “market perform” rating for the company. Barclays increased their target price on shares of Enphase Energy from $33.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and thirteen have assigned a Sell rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Reduce” and an average target price of $40.39.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $35.36 on Friday. Enphase Energy, Inc. has a 1-year low of $25.77 and a 1-year high of $70.78. The stock has a market cap of $4.63 billion, a PE ratio of 24.39 and a beta of 1.35. The stock’s fifty day simple moving average is $31.47 and its two-hundred day simple moving average is $34.83. 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 (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. The company 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%.Enphase Energy’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. As a group, analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, 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 transaction, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

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.