Mandatum Life Insurance Co Ltd Purchases 14,098 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Mandatum Life Insurance Co Ltd raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 65.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,615 shares of the semiconductor company's stock after purchasing an additional 14,098 shares during the period. Enphase Energy accounts for about 0.7% of Mandatum Life Insurance Co Ltd's holdings, making the stock its 29th biggest position. Mandatum Life Insurance Co Ltd's holdings in Enphase Energy were worth $2,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 6,975.0% in the third 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 during the period. UMB Bank n.a. increased its position in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company's stock valued at $33,000 after buying an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Enphase Energy in the third quarter valued at $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the third quarter valued at $34,000. Finally, Quarry LP purchased a new position in shares of Enphase Energy in the third quarter valued at $37,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI dropped their price objective on Enphase Energy from $133.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Craig Hallum dropped their price objective on Enphase Energy from $153.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Truist Financial reiterated 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. The Goldman Sachs Group dropped their price objective on Enphase Energy from $145.00 to $121.00 and set a "buy" rating for the company in a research report on Tuesday, December 17th. Finally, Northland Securities decreased their price target on Enphase Energy from $110.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Enphase Energy presently has an average rating of "Hold" and an average target price of $95.59.

Enphase Energy Stock Performance

NASDAQ:ENPH traded up $0.22 during mid-day trading on Monday, hitting $63.69. 3,116,627 shares of the company's stock traded hands, compared to its average volume of 2,583,824. The firm has a 50 day moving average of $69.22 and a two-hundred day moving average of $92.90. Enphase Energy, Inc. has a 12 month low of $58.33 and a 12 month high of $141.63. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period in the previous year, the company posted $0.84 earnings per share. The company's quarterly revenue was down 30.9% on a year-over-year basis. On average, equities analysts forecast that Enphase Energy, Inc. will post 0.92 earnings per share 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.