Phoenix Financial Ltd. Has $14.21 Million Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Phoenix Financial Ltd. increased its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 1,097.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,874 shares of the semiconductor company’s stock after purchasing an additional 189,603 shares during the period. Phoenix Financial Ltd.’s holdings in Enphase Energy were worth $14,208,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in shares of Enphase Energy by 72.7% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock worth $1,305,000 after purchasing an additional 8,000 shares during the period. Nordea Investment Management AB lifted its position in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after acquiring an additional 1,258,778 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enphase Energy in the fourth quarter worth $5,324,000. Norges Bank purchased a new position in shares of Enphase Energy in the fourth quarter valued at $46,339,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Enphase Energy during the 4th quarter valued at $584,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENPH has been the subject of a number of recent analyst reports. 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. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Oppenheimer boosted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a research report on Friday, January 31st. Finally, Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.79.

Enphase Energy Price Performance

Shares of ENPH stock opened at $54.13 on Thursday. The business’s fifty day moving average is $61.03 and its 200 day moving average is $71.96. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 73.15 and a beta of 1.94. Enphase Energy, Inc. has a twelve month low of $47.48 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, topping 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%. Research analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’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 transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

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.