PNC Financial Services Group Inc. raised its holdings in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,970 shares of the semiconductor company’s stock after acquiring an additional 227 shares during the period. PNC Financial Services Group Inc.’s holdings in Enphase Energy were worth $1,317,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Donoghue Forlines LLC boosted its stake in shares of Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 90 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its stake in shares of Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after acquiring an additional 107 shares during the period. E Fund Management Co. Ltd. lifted its stake in shares of Enphase Energy by 5.5% in the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares during the period. Covestor Ltd lifted its stake in shares of Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the period. Finally, Valley Wealth Managers Inc. lifted its stake in shares of Enphase Energy by 12.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,323 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 145 shares during the period. Institutional investors own 72.12% of the company’s stock.
Insider Activity
In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the transaction, the chief financial officer now directly owns 62,973 shares in the company, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. Insiders have sold 30,000 shares of company stock valued at $3,219,700 in the last 90 days. Insiders own 3.40% of the company’s stock.
Enphase Energy Stock Up 3.4 %
ENPH stock opened at $129.38 on Wednesday. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The stock’s fifty day simple moving average is $114.69 and its two-hundred day simple moving average is $114.72. The stock has a market cap of $17.60 billion, a P/E ratio of 67.39, a P/E/G ratio of 4.62 and a beta of 1.50.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $263.34 million for the quarter, compared to analysts’ expectations of $280.06 million. Analysts expect that Enphase Energy, Inc. will post 1.59 EPS for the current year.
Analysts Set New Price Targets
A number of research firms recently commented on ENPH. Canaccord Genuity Group cut their price objective on Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, April 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $111.00 price objective (down from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. Craig Hallum dropped their price target on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.45.
Get Our Latest Research Report on Enphase Energy
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
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Source: defenseworld.net
