Y Intercept Hong Kong Ltd Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Y Intercept Hong Kong Ltd bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,510 shares of the semiconductor company's stock, valued at approximately $584,000.

A number of other hedge funds have also bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the period. Swedbank AB raised its holdings in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after purchasing an additional 11,890 shares during the period. Geode Capital Management LLC boosted its position in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company's stock valued at $265,609,000 after purchasing an additional 142,491 shares during the period. Finally, Nordea Investment Management AB grew its holdings in 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 valued at $155,360,000 after purchasing an additional 1,258,778 shares during the period. Institutional investors and hedge funds own 72.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ENPH shares. Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and increased their target price for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. Piper Sandler dropped their target price on shares of Enphase Energy from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Jefferies Financial Group downgraded shares of Enphase Energy from a "hold" rating to an "underperform" rating and reduced their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Hsbc Global Res lowered shares of Enphase Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Susquehanna cut their price objective on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $90.42.

Enphase Energy Stock Up 1.4 %

NASDAQ:ENPH traded up $0.79 during trading hours on Wednesday, hitting $58.65. 3,719,678 shares of the stock traded hands, compared to its average volume of 4,381,948. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 79.26 and a beta of 1.68. The firm has a 50 day moving average price of $65.24 and a 200 day moving average price of $82.44. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly 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%. Equities research analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

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.