NEOS Investment Management LLC Acquires 1,240 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

NEOS Investment Management LLC increased its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 26.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,888 shares of the semiconductor company’s stock after buying an additional 1,240 shares during the quarter. NEOS Investment Management LLC’s holdings in Enphase Energy were worth $404,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock worth $1,305,000 after acquiring an additional 8,000 shares during the period. Nordea Investment Management AB lifted its holdings 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 buying an additional 1,258,778 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enphase Energy during the 4th quarter valued at $5,324,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Enphase Energy in the 4th quarter worth $584,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Enphase Energy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company’s stock worth $64,354,000 after acquiring an additional 56,676 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several research reports. Oppenheimer raised their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Citigroup downgraded shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price objective on shares of Enphase Energy from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.36.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $62.05 on Tuesday. The firm has a fifty day simple moving average of $62.21 and a two-hundred day simple moving average of $75.12. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $8.22 billion, a P/E ratio of 83.85 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping 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%. On average, analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the 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 in the company, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

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.