Nomura Asset Management Co. Ltd. Trims Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Nomura Asset Management Co. Ltd. cut its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 28.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,897 shares of the semiconductor company’s stock after selling 18,528 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Enphase Energy were worth $3,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock valued at $1,135,707,000 after buying an additional 44,782 shares during the period. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the period. Geode Capital Management LLC boosted its position in Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. Finally, FMR LLC increased its holdings in shares of Enphase Energy by 5.7% during the 3rd quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company’s stock valued at $117,168,000 after purchasing an additional 56,136 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mandy Yang sold 1,319 shares of the business’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 sale, the chief financial officer now owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of recent analyst reports. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price target on the stock in a report on Friday, January 31st. Truist Financial restated a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. BMO Capital Markets reduced their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Citigroup downgraded Enphase Energy from a “neutral” rating to a “negative” rating in a research note on Wednesday, March 26th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $90.36.

Enphase Energy Trading Up 0.5 %

Shares of Enphase Energy stock opened at $62.39 on Wednesday. The stock has a 50 day moving average of $62.20 and a 200 day moving average of $74.79. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 84.31 and a beta of 2.12. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63.

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