Resona Asset Management Co. Ltd. Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Resona Asset Management Co. Ltd. purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 41,812 shares of the semiconductor company's stock, valued at approximately $2,892,000.

Several other large investors have also recently made changes to their positions in ENPH. Quarry LP purchased a new position in Enphase Energy during the 3rd quarter valued at about $37,000. National Bank of Canada FI grew its holdings in shares of Enphase Energy by 59.5% in the third quarter. National Bank of Canada FI now owns 67,720 shares of the semiconductor company's stock valued at $7,654,000 after purchasing an additional 25,261 shares in the last quarter. MML Investors Services LLC increased its stake in Enphase Energy by 24.1% during the 3rd quarter. MML Investors Services LLC now owns 23,229 shares of the semiconductor company's stock worth $2,625,000 after buying an additional 4,508 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Enphase Energy by 1.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 64,425 shares of the semiconductor company's stock worth $7,281,000 after buying an additional 702 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Enphase Energy by 4.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 61,366 shares of the semiconductor company's stock valued at $6,936,000 after buying an additional 2,438 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares of the company's stock, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Remove Ads

Enphase Energy Stock Performance

Shares of ENPH stock traded down $1.30 during midday trading on Tuesday, hitting $53.25. The company had a trading volume of 713,220 shares, compared to its average volume of 3,973,828. Enphase Energy, Inc. has a 52-week low of $47.48 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company's 50 day simple moving average is $60.24 and its 200 day simple moving average is $70.35. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 71.93 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Craig Hallum cut their price objective on Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler lowered their price objective on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Barclays reduced their target price on shares of Enphase Energy from $91.00 to $86.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Canaccord Genuity Group upgraded shares of Enphase Energy from a "hold" rating to a "buy" rating and boosted their price target for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped 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. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $88.49.

Enphase Energy Company 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.