Federated Hermes Inc. Buys 240,522 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Federated Hermes Inc. boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 235.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 342,767 shares of the semiconductor company's stock after acquiring an additional 240,522 shares during the quarter. Federated Hermes Inc. owned 0.25% of Enphase Energy worth $23,543,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Enphase Energy in the third quarter worth approximately $37,000. Venturi Wealth Management LLC grew its holdings in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock worth $46,000 after buying an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Enphase Energy in the 4th quarter valued at $47,000. Sava Infond d.o.o. purchased a new stake in Enphase Energy in the 4th quarter valued at $69,000. Finally, Avior Wealth Management LLC lifted its stake in Enphase Energy by 269.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 762 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ENPH shares. Truist Financial reiterated a "hold" rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Oppenheimer upped their price objective on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Jefferies Financial Group dropped their target price on shares of Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Citigroup lowered Enphase Energy from a "neutral" rating to a "negative" rating in a report on Wednesday, March 26th. Finally, Susquehanna dropped their price target on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $89.06.

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Enphase Energy Trading Up 4.7 %

Shares of Enphase Energy stock traded up $2.33 during trading on Friday, reaching $51.89. The company's stock had a trading volume of 4,265,883 shares, compared to its average volume of 3,986,339. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 52-week low of $47.48 and a 52-week high of $141.63. The firm's 50-day moving average is $60.46 and its two-hundred day moving average is $71.07. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 70.12 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (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 anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction dated 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 directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. This trade 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 company insiders.

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.