Handelsbanken Fonder AB Trims Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Handelsbanken Fonder AB lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,888 shares of the semiconductor company’s stock after selling 262 shares during the quarter. Handelsbanken Fonder AB’s holdings in Enphase Energy were worth $8,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC grew its holdings in Enphase Energy by 5.9% in the fourth quarter. CWM LLC now owns 4,278 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 238 shares during the period. abrdn plc grew its holdings in Enphase Energy by 178.7% in the fourth quarter. abrdn plc now owns 268,812 shares of the semiconductor company’s stock worth $35,521,000 after purchasing an additional 172,359 shares during the period. Federated Hermes Inc. grew its holdings in Enphase Energy by 1,093.2% in the fourth quarter. Federated Hermes Inc. now owns 57,845 shares of the semiconductor company’s stock worth $7,644,000 after purchasing an additional 52,997 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Enphase Energy by 251.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,221 shares of the semiconductor company’s stock worth $1,225,000 after purchasing an additional 6,596 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Enphase Energy in the fourth quarter worth about $415,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective on the stock. in a report on Wednesday. Oppenheimer upped their price objective on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets cut their price target on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday. Mizuho cut their price target on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Piper Sandler reiterated a “neutral” rating and set a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.00.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Stock Down 5.6 %

ENPH opened at $107.17 on Thursday. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $228.36. The company has a market capitalization of $14.57 billion, a PE ratio of 55.82, a PEG ratio of 3.24 and a beta of 1.47. The firm’s 50 day simple moving average is $119.28 and its two-hundred day simple moving average is $111.97.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. As a group, equities analysts forecast that Enphase Energy, Inc. will post 2.01 EPS 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.