Rhumbline Advisers Sells 40,158 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Rhumbline Advisers cut its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 13.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,818 shares of the semiconductor company's stock after selling 40,158 shares during the quarter. Rhumbline Advisers owned 0.19% of Enphase Energy worth $17,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ENPH. Nordea Investment Management AB raised its holdings in shares of Enphase Energy by 131.6% during the fourth 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 in the last quarter. Mizuho Securities USA LLC raised its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock worth $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Aspex Management HK Ltd purchased a new stake in shares of Enphase Energy in the 3rd quarter worth about $48,442,000. Montrusco Bolton Investments Inc. lifted its position in shares of Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company's stock worth $99,295,000 after purchasing an additional 424,327 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 valued at $31,830,000 after buying an additional 365,356 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

ENPH traded down $1.25 during trading on Tuesday, hitting $64.83. The company's stock had a trading volume of 4,240,082 shares, compared to its average volume of 3,856,285. Enphase Energy, Inc. has a one year low of $58.33 and a one year high of $141.63. The business's 50 day simple moving average is $66.42 and its 200-day simple moving average is $84.37. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The firm has a market cap of $8.59 billion, a PE ratio of 87.61 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ENPH. TD Cowen lowered their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, January 27th. BNP Paribas lowered Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a research report on Friday, November 8th. Piper Sandler decreased their price objective on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group upgraded shares of Enphase Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their target price on shares of Enphase Energy from $83.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and a consensus target price of $90.42.

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.