Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 44.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,403 shares of the semiconductor company's stock after selling 10,553 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Enphase Energy were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in 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 buying an additional 1,258,778 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Enphase Energy by 4,177.9% during the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock valued at $50,737,000 after buying an additional 438,424 shares during the last quarter. Aspex Management HK Ltd purchased a new position in Enphase Energy during the third quarter valued at $48,442,000. Montrusco Bolton Investments Inc. raised its stake in Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company's stock valued at $99,295,000 after buying an additional 424,327 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in 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 last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ENPH shares. 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 note on Wednesday, February 5th. Roth Mkm lowered their price objective on Enphase Energy from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. BMO Capital Markets decreased their price target on Enphase Energy from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group decreased their price target on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $90.42.

Enphase Energy Stock Performance

ENPH stock traded up $1.35 during midday trading on Friday, reaching $63.94. The stock had a trading volume of 2,400,613 shares, compared to its average volume of 3,933,361. The stock has a market cap of $8.64 billion, a PE ratio of 86.41, a P/E/G ratio of 8.78 and a beta of 1.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.88 and a current ratio of 3.53. The firm has a fifty day simple moving average of $67.61 and a two-hundred day simple moving average of $86.55. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts anticipate that Enphase Energy, Inc. will post 2.12 EPS for the current year.

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.