Mandatum Life Insurance Co Ltd Acquires 9,139 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Mandatum Life Insurance Co Ltd lifted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 73.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,517 shares of the semiconductor company's stock after purchasing an additional 9,139 shares during the quarter. Enphase Energy accounts for approximately 0.7% of Mandatum Life Insurance Co Ltd's holdings, making the stock its 28th largest position. Mandatum Life Insurance Co Ltd's holdings in Enphase Energy were worth $2,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westfield Capital Management Co. LP bought a new position in shares of Enphase Energy in the fourth quarter worth $41,068,000. Northern Trust Corp boosted its stake in Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company's stock valued at $180,314,000 after buying an additional 3,940 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock valued at $10,658,000 after buying an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Enphase Energy by 364.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company's stock valued at $13,147,000 after buying an additional 85,284 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Enphase Energy by 279.6% during the first quarter. Cetera Investment Advisers now owns 24,248 shares of the semiconductor company's stock valued at $2,934,000 after buying an additional 17,861 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

Analysts Set New Price Targets

ENPH has been the subject of several research reports. Roth Mkm reaffirmed a "buy" rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a "sell" rating and a $45.82 target price for the company. Morgan Stanley raised their target price on Enphase Energy from $98.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 21st. William Blair assumed coverage on Enphase Energy in a research report on Thursday. They issued a "market perform" rating for the company. Finally, Craig Hallum boosted their price objective on Enphase Energy from $147.00 to $153.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, Enphase Energy has a consensus rating of "Hold" and a consensus target price of $128.76.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares of the company's stock, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.

Enphase Energy Stock Down 0.2 %

Shares of NASDAQ:ENPH traded down $0.26 during midday trading on Friday, reaching $121.04. 1,999,684 shares of the company were exchanged, compared to its average volume of 2,269,368. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $110.33 and a two-hundred day simple moving average of $115.91. The firm has a market cap of $16.39 billion, a PE ratio of 63.04, a P/E/G ratio of 6.22 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the previous year, the business posted $1.16 EPS. The firm's revenue for the quarter was down 57.3% on a year-over-year basis. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 1.23 earnings per share for the current year.

Enphase Energy 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.