Victory Capital Management Inc. Trims Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Victory Capital Management Inc. trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 36.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,873 shares of the semiconductor company's stock after selling 19,159 shares during the quarter. Victory Capital Management Inc.'s holdings in Enphase Energy were worth $2,326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after buying an additional 2,028,691 shares during the period. Nordea Investment Management AB lifted its stake in shares of Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock worth $155,360,000 after acquiring an additional 1,258,778 shares during the period. Aspex Management HK Ltd bought a new stake in Enphase Energy in the third quarter valued at approximately $48,442,000. Montrusco Bolton Investments Inc. increased its position in 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 during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Enphase Energy by 372.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company's stock worth $31,830,000 after purchasing an additional 365,356 shares during the period. 72.12% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on ENPH shares. OTR Global raised shares of Enphase Energy from a "negative" rating to a "mixed" rating in a research note on Friday, December 20th. Susquehanna lowered their price objective on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group cut their target price on Enphase Energy from $121.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Barclays dropped their price target on Enphase Energy from $91.00 to $86.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, BMO Capital Markets cut their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $90.42.

Enphase Energy Price Performance

Shares of ENPH stock traded down $0.16 on Friday, reaching $61.54. The company's stock had a trading volume of 1,885,154 shares, compared to its average volume of 3,921,397. The company has a market capitalization of $8.15 billion, a P/E ratio of 83.16 and a beta of 2.12. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. The stock's 50 day simple moving average is $62.70 and its 200-day simple moving average is $77.97. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

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

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was 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.

About Enphase Energy

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.