Enphase Energy, Inc. (NASDAQ:ENPH) Stake Increased by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,668,807 shares of the semiconductor company’s stock after buying an additional 484,497 shares during the quarter. Northern Trust Corp’s holdings in Enphase Energy were worth $114,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Inspire Investing LLC grew its holdings in shares of Enphase Energy by 2.0% during the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after acquiring an additional 318 shares in the last quarter. GeoWealth Management LLC grew its stake in Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 321 shares in the last quarter. Norinchukin Bank The increased its position in Enphase Energy by 6.0% in the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 328 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Enphase Energy by 0.9% during the 4th quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock worth $2,700,000 after purchasing an additional 336 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Enphase Energy by 0.9% during the 4th quarter. MetLife Investment Management LLC now owns 41,504 shares of the semiconductor company’s stock valued at $2,850,000 after buying an additional 361 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENPH. Mizuho dropped their price objective on Enphase Energy from $81.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler cut their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, DZ Bank downgraded Enphase Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.54.

Enphase Energy Stock Performance

Enphase Energy stock opened at $45.56 on Friday. The firm has a market capitalization of $5.98 billion, a P/E ratio of 61.57 and a beta of 1.94. The stock has a fifty day moving average price of $55.85 and a two-hundred day moving average price of $65.23. Enphase Energy, Inc. has a 52-week low of $43.80 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Enphase Energy Company 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.