Sumitomo Mitsui Trust Group Inc. Sells 6,816 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 307,827 shares of the semiconductor company's stock after selling 6,816 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Enphase Energy worth $21,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 131.6% during 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 in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company's stock valued at $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Aspex Management HK Ltd bought a new stake in shares of Enphase Energy during the 3rd quarter valued at about $48,442,000. Montrusco Bolton Investments Inc. boosted its position in shares of Enphase Energy by 93.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company's stock valued at $99,295,000 after purchasing an additional 424,327 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock valued at $31,830,000 after purchasing an additional 365,356 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Stock Performance

NASDAQ:ENPH traded up $1.35 during trading hours 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 company has a debt-to-equity ratio of 1.44, a quick ratio of 3.88 and a current ratio of 3.53. The stock has a 50 day simple moving average of $67.61 and a 200 day simple moving average of $86.35. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63. The stock has a market cap of $8.64 billion, a P/E ratio of 86.41, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released 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%. On average, research analysts forecast that Enphase Energy, Inc. will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

ENPH has been the topic of several recent research reports. Glj Research reiterated a "sell" rating and issued a $50.69 price target on shares of Enphase Energy in a report on Tuesday, February 4th. Susquehanna cut their price target on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Morgan Stanley cut their price target on Enphase Energy from $68.00 to $67.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets cut their price target on Enphase Energy from $69.00 to $66.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, Janney Montgomery Scott lowered Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Wednesday, October 23rd. Three investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.