Hello, utahchris!
So I was out bicycling and returned home after the Market closed and discovered that Enphase shares had exploded up some 30+%. Gotta say, that piqued my curiosity so I went searching for the reason. I found the reason:
https://finance.yahoo.com/news/enphase-energy-acquire-sunpow…
Here’s the thing: Back in 2014, Sunpower bought Solarbridge (the only other microinverter company at the time) for lotsa bucks. I forgot the price paid but it was waaaay more than Enphase now paid to acquire the assets. Not a big surprise because the Solarbridge technology wasn’t all that awe-inspiring. I was rather impressed by this acquisition. Sunpower is a big player in the panel market. Not that long ago, Sunpower began selling AC modules (panel + microinverter) and sales SKYROCKETED (don’t ask me for the numbers, I’m a senior citizen for chrissakes). At any rate, both Enphase and Sunpower knew AC modules were the future. No big surprise that Sunpower wanted Enphase to deliver the microinverters. Enphase, in return, would get a big boost in its IP portfolio and now has a partner that will sell a whole lotta AC modules. Looks like a win-win for both companies (hence the 30% price jump).
I’ve liked the Enphase story for a long time. I’m liking it even more this evening. Tomorrow, if share prices stay relatively the same as where they are right now, I will make another coupla years of living expenses. I consider that a good thing.
I now believe that Enpase could climb to $8.00/share this year…but that’s just the start…there’s more good news coming.
You’re welcome!