Commonwealth Equity Services LLC Reduces Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Commonwealth Equity Services LLC has cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 23% during the fourth quarter, as reported by Holdings Channel.com. Following this reduction, the fund now holds 66,003 shares of the semiconductor company’s stock after offloading 19,738 shares. As per the latest SEC filing, Commonwealth Equity Services LLC’s investment in Enphase Energy is valued at $4,533,000.

Other institutional investors have also been active with their holdings in Enphase Energy. For instance, Avior Wealth Management LLC dramatically increased its stake by 6,975% in the third quarter, now owning 283 shares worth $32,000 after buying an extra 279 shares. Similarly, Stone House Investment Management LLC initiated a new position in Enphase Energy valued at approximately $34,000, while Quarry LP also established a new stake valued at roughly $37,000. Venturi Wealth Management LLC raised its investment by 318.1%, now holding 669 shares valued at $46,000 after acquiring 509 additional shares in the fourth quarter. Lastly, Brooklyn Investment Group also acquired a new stake worth about $55,000. Collectively, institutional investors own 72.12% of Enphase Energy’s stock.

Analyst Ratings and Forecasts

Wall Street analysts have recently issued their assessments concerning Enphase Energy. Notably, JPMorgan Chase & Co. lowered its price target from $112.00 to $91.00 while maintaining an “overweight” rating on the stock. Susquehanna also adjusted its target price downward from $79.00 to $76.00, assigning a “neutral” rating. Glj Research maintained a “sell” rating with a price target set at $50.69. In contrast, Canaccord Genuity Group upgraded Enphase from a “hold” to a “buy” rating and raised the price target from $76.00 to $82.00. Likewise, Craig Hallum decreased its price target from $123.00 to $101.00 while retaining a “buy” rating on the stock. In total, three analysts rate the stock as a sell, seventeen as hold, and fourteen as buy, culminating in an average rating of “Hold” and a consensus price target of $90.42.

Insider Transactions

Recent insider trading has also been noted. Director Thurman J. Rodgers sold 100,000 shares on March 7, fetching an average price of $61.26, totaling $6,126,000. Following this transaction, he retains 1,881,760 shares valued at around $115 million. This sale represented a 5.05% reduction in his shareholding. Additionally, CFO Mandy Yang sold 1,319 shares on March 10 at an average price of $63.32, garnering a total of $83,519.08. Post-transaction, Yang holds 78,524 shares valued at approximately $4.97 million, marking a 1.65% decrease in her stock ownership. Corporate insiders own 3.40% of Enphase Energy’s shares.

Recent Share Price Performance

The shares of Enphase Energy opened at $61.54 recently, with a 50-day moving average of $62.60 and a 200-day moving average at $77.06. Over the past year, the stock has seen lows of $51.63 and highs of $141.63. The company boasts a market cap of $8.15 billion, a PE ratio of 83.16, and a beta of 2.12. Its liquidity metrics include a current ratio of 3.53 and a quick ratio of 3.28, along with a debt-to-equity ratio of 1.44.

In terms of earnings, Enphase Energy reported a $0.57 EPS for the last quarter, exceeding analysts' expectations of $0.43 by $0.14. The company achieved a return on equity of 15.62% with a net margin of 7.72%. Analysts forecast an EPS of 2.08 for the current fiscal year.

About Enphase Energy

Enphase Energy, Inc. specializes in designing, developing, manufacturing, and selling home energy solutions for the solar photovoltaic industry both in the United States and globally. The company is known for its innovative semiconductor-based microinverter technology, which converts energy at the individual solar module level. This technology also integrates proprietary networking and software that allow for energy monitoring and control.

Commonwealth, Enphase, Investments