KLP Kapitalforvaltning AS Acquires New Position in Enphase Energy, Inc. (NASDAQ:ENPH)

KLP Kapitalforvaltning AS bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 89,200 shares of the semiconductor company's stock, valued at approximately $6,126,000. KLP Kapitalforvaltning AS owned 0.07% of Enphase Energy as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Gould Capital LLC raised its position in Enphase Energy by 2.1% during the third 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 during the period. Avior Wealth Management LLC grew its stake in Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 279 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in shares of Enphase Energy by 6.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company's stock valued at $513,000 after purchasing an additional 290 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy in the third quarter worth approximately $34,000. Finally, Inspire Investing LLC boosted its holdings 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 worth $1,098,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 72.12% of the company's stock.

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Enphase Energy Stock Performance

Shares of NASDAQ ENPH traded up $0.94 during mid-day trading on Friday, hitting $61.65. The company had a trading volume of 3,407,658 shares, compared to its average volume of 3,958,579. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The firm has a market cap of $8.17 billion, a P/E ratio of 83.31 and a beta of 2.12. The business's 50-day simple moving average is $62.24 and its 200-day simple moving average is $75.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

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

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The stock was 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. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of the 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 completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Enphase Energy from a "hold" rating to a "buy" rating and increased their target price for the stock from $76.00 to $82.00 in a research report on Wednesday, February 5th. Truist Financial reissued a "hold" rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Barclays dropped their target price on Enphase Energy from $91.00 to $86.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Glj Research reiterated a "sell" rating and set a $50.69 price target on shares of Enphase Energy in a report on Tuesday, February 4th. Finally, Redburn Atlantic started coverage on Enphase Energy in a report on Monday, March 3rd. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.36.

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.