Enphase Energy, Inc. (NASDAQ:ENPH) Stake Increased by Rathbones Group PLC

Rathbones Group PLC raised its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 53,835 shares of the semiconductor company’s stock after acquiring an additional 1,140 shares during the quarter. Rathbones Group PLC’s holdings in Enphase Energy were worth $3,697,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ENPH. Gould Capital LLC lifted its position in shares of Enphase Energy by 2.1% during the third quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock worth $1,153,000 after purchasing an additional 212 shares during the last quarter. Resources Management Corp CT ADV raised its stake in Enphase Energy by 6.8% during the third quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 290 shares in the last quarter. Inspire Investing LLC lifted its holdings in Enphase Energy by 2.0% during the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock worth $1,098,000 after buying an additional 318 shares during the last quarter. Quarry LP acquired a new position in shares of Enphase Energy in the 3rd quarter worth approximately $37,000. Finally, Arizona State Retirement System increased its holdings in shares of Enphase Energy by 0.9% in the 4th quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock valued at $2,700,000 after acquiring an additional 336 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

NASDAQ ENPH opened at $55.76 on Tuesday. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63. The stock’s 50-day moving average price is $61.83 and its two-hundred day moving average price is $73.15. The company has a market cap of $7.39 billion, a PE ratio of 75.35 and a beta of 1.94. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Activity

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ENPH shares. JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Redburn Atlantic began coverage on shares of Enphase Energy in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Oppenheimer raised their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Glj Research reaffirmed a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Finally, Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.79.

Enphase Energy Profile

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.