LPL Financial LLC Lowers Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

LPL Financial LLC lessened its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,277 shares of the semiconductor company's stock after selling 35,530 shares during the quarter. LPL Financial LLC's holdings in Enphase Energy were worth $3,659,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 last quarter. Geode Capital Management LLC boosted its stake in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after buying an additional 20,579 shares during the period. Nordea Investment Management AB raised its stake in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Enphase Energy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock worth $64,354,000 after purchasing an additional 56,676 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Enphase Energy by 372.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock worth $31,830,000 after purchasing an additional 365,356 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

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Insiders Place Their Bets

In related news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The stock was 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 in the company, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ENPH. OTR Global raised shares of Enphase Energy from a "negative" rating to a "mixed" rating in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Morgan Stanley lowered their target price on Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Piper Sandler cut their price target on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group decreased their price objective on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy presently has a consensus rating of "Hold" and a consensus price target of $88.49.

Enphase Energy Price Performance

NASDAQ:ENPH traded down $1.92 during trading hours on Tuesday, hitting $52.63. The company's stock had a trading volume of 1,308,946 shares, compared to its average volume of 3,975,941. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 52-week low of $47.48 and a 52-week high of $141.63. The company has a market capitalization of $6.97 billion, a PE ratio of 71.12 and a beta of 1.94. The business's 50-day moving average is $60.24 and its two-hundred day moving average is $70.35.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

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.