First Community Trust NA Decreases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

First Community Trust NA lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 28.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,100 shares of the semiconductor company’s stock after selling 435 shares during the quarter. First Community Trust NA’s holdings in Enphase Energy were worth $68,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENPH. McGowan Group Asset Management Inc. grew its holdings in Enphase Energy by 2.0% during the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company’s stock worth $1,145,000 after acquiring an additional 319 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Enphase Energy by 56.3% in the 4th 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 lifted its position in shares of Enphase Energy by 6.0% during the fourth 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. Rafferty Asset Management LLC grew its stake in Enphase Energy by 0.7% in the fourth quarter. Rafferty Asset Management LLC now owns 49,939 shares of the semiconductor company’s stock worth $3,430,000 after purchasing an additional 332 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Enphase Energy by 0.9% in the fourth 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. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley cut Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, April 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 target price (down previously from $59.00) on shares of Enphase Energy in a report on Wednesday, April 23rd. BNP Paribas downgraded Enphase Energy from an “outperform” rating to an “underperform” rating in a report on Tuesday, May 13th. Jefferies Financial Group reduced their target price on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reduced their target price on Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $68.87.

Enphase Energy Stock Up 4.7%

Shares of Enphase Energy stock opened at $41.08 on Friday. The business’s fifty day moving average price is $49.64 and its two-hundred day moving average price is $60.34. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a market capitalization of $5.39 billion, a P/E ratio of 55.51 and a beta of 1.80. Enphase Energy, Inc. has a 1-year low of $37.59 and a 1-year high of $141.63.

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.