Royal London Asset Management Ltd. Has $4.43 Million Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Royal London Asset Management Ltd. grew its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,467 shares of the semiconductor company's stock after buying an additional 7,615 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Enphase Energy were worth $4,428,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Cibc World Markets Corp lifted its stake in shares of Enphase Energy by 15.6% during the fourth quarter. Cibc World Markets Corp now owns 21,304 shares of the semiconductor company's stock worth $1,463,000 after purchasing an additional 2,869 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Enphase Energy by 116.9% during the fourth quarter. Natixis Advisors LLC now owns 24,421 shares of the semiconductor company's stock valued at $1,677,000 after purchasing an additional 13,160 shares during the period. Stelac Advisory Services LLC acquired a new position in shares of Enphase Energy during the fourth quarter worth $1,571,000. Vestcor Inc grew its holdings in Enphase Energy by 158.3% during the 4th quarter. Vestcor Inc now owns 7,109 shares of the semiconductor company's stock valued at $488,000 after purchasing an additional 4,357 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enphase Energy in the 4th quarter worth $5,324,000. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Price Performance

ENPH stock traded down $2.62 on Wednesday, hitting $60.15. 2,449,332 shares of the company's stock traded hands, compared to its average volume of 3,918,748. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 81.28 and a beta of 2.12. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The stock has a fifty day moving average of $62.34 and a 200-day moving average of $76.27.

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Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating 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, analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENPH has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on Enphase Energy from $83.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Truist Financial reaffirmed 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. Citigroup lowered shares of Enphase Energy from a "neutral" rating to a "negative" rating in a research note on Wednesday. Glj Research reissued a "sell" rating and set a $50.69 price target on shares of Enphase Energy in a research report on Tuesday, February 4th. Finally, Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and raised their price objective for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Four 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, Enphase Energy has a consensus rating of "Hold" and a consensus target price of $90.42.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on 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 transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. The trade was 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 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.