Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,453 shares of the semiconductor company’s stock after acquiring an additional 86,666 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Enphase Energy were worth $27,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Enphase Energy in the third quarter worth $37,475,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after buying an additional 8,000 shares during the last quarter. Nordea Investment Management AB boosted its holdings 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 valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enphase Energy during the fourth quarter worth about $5,324,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENPH. Craig Hallum reduced their target price on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Truist Financial reissued a “hold” rating and issued a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Morgan Stanley decreased their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Susquehanna cut their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.42.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Enphase Energy Stock Performance

Enphase Energy stock opened at $60.15 on Thursday. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63. The firm’s 50 day simple moving average is $62.34 and its 200-day simple moving average is $76.27. 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 cap of $7.97 billion, a P/E ratio of 81.28 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. As a group, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.