Nomura Asset Management Co. Ltd. Cuts Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Nomura Asset Management Co. Ltd. decreased its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,897 shares of the semiconductor company's stock after selling 18,528 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Enphase Energy were worth $3,152,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Enphase Energy by 72.7% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock valued at $1,305,000 after acquiring an additional 8,000 shares during the last quarter. Nordea Investment Management AB lifted 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 purchasing an additional 1,258,778 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enphase Energy in the 4th quarter worth approximately $5,324,000. Y Intercept Hong Kong Ltd bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $584,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $64,354,000 after buying an additional 56,676 shares during the period. Institutional investors own 72.12% of the company's stock.

Analysts Set New Price Targets

ENPH has been the topic of a number of analyst reports. Glj Research reiterated a "sell" rating and set a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Redburn Atlantic started coverage on Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating for the company. Truist Financial reiterated a "hold" rating and issued a $65.00 price target (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Finally, TD Cowen dropped their price objective on Enphase Energy from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, January 27th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $90.36.

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Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction 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 owns 78,524 shares of the company's stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Enphase Energy Stock Up 0.5 %

Shares of ENPH stock opened at $62.39 on Wednesday. The stock's fifty day moving average price is $62.20 and its 200 day moving average price is $74.79. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 84.31 and a beta of 2.12. 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 issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. On average, research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal 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.

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