Mitsubishi UFJ Asset Management Co. Ltd. Purchases 19,743 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 10.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 216,132 shares of the semiconductor company’s stock after buying an additional 19,743 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Enphase Energy were worth $15,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of 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 raised its stake in shares of Enphase Energy by 131.6% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enphase Energy during the fourth quarter worth approximately $5,324,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $584,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Enphase Energy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company’s stock valued at $64,354,000 after purchasing an additional 56,676 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Up 0.6 %

Enphase Energy stock opened at $62.05 on Tuesday. The company has a fifty day simple moving average of $62.21 and a 200 day simple moving average of $75.12. 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, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a market cap of $8.22 billion, a P/E ratio of 83.85 and a beta of 2.12.

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

Insider Activity

In related news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, 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 position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ENPH shares. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Piper Sandler lowered their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Finally, Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target for the company in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.36.

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.