Korea Investment CORP Raises Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Korea Investment CORP raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,758 shares of the semiconductor company's stock after purchasing an additional 28,742 shares during the quarter. Korea Investment CORP owned 0.07% of Enphase Energy worth $6,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ENPH. Gould Capital LLC lifted its holdings in Enphase Energy by 2.1% during the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company's stock valued at $1,153,000 after buying an additional 212 shares in the last quarter. Resources Management Corp CT ADV increased its position in shares of Enphase Energy by 6.8% during the third quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company's stock worth $513,000 after acquiring an additional 290 shares during the period. Inspire Investing LLC raised its stake in shares of Enphase Energy by 2.0% during the fourth quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company's stock valued at $1,098,000 after acquiring an additional 318 shares in the last quarter. Ingalls & Snyder LLC grew its stake in Enphase Energy by 4.2% in the third quarter. Ingalls & Snyder LLC now owns 7,869 shares of the semiconductor company's stock worth $889,000 after purchasing an additional 320 shares in the last quarter. Finally, Quarry LP purchased a new position in Enphase Energy during the 3rd quarter worth $37,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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Enphase Energy Stock Performance

Shares of ENPH stock traded down $1.50 during trading hours on Friday, hitting $57.27. The company's stock had a trading volume of 4,406,610 shares, compared to its average volume of 3,950,803. The stock has a market cap of $7.59 billion, a PE ratio of 77.39 and a beta of 2.12. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. The company has a 50 day moving average of $62.00 and a 200 day moving average of $73.90. 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 (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the 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 sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ENPH. Oppenheimer upped their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Truist Financial reiterated a "hold" rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. The Goldman Sachs Group reduced their price target on shares of Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Guggenheim upgraded shares of Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 price objective on the stock in a research note on Friday, January 31st. Finally, Jefferies Financial Group cut their price objective on shares of Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy currently has an average rating of "Hold" and an average target price of $89.79.

About Enphase Energy

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.