Geode Capital Management LLC Has $234.99 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Geode Capital Management LLC grew its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,429,909 shares of the semiconductor company’s stock after purchasing an additional 47,593 shares during the quarter. Geode Capital Management LLC owned about 2.54% of Enphase Energy worth $234,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its holdings in shares of Enphase Energy by 11.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company’s stock worth $658,000 after buying an additional 600 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in Enphase Energy by 106.8% during the third quarter. Investment Management Corp of Ontario now owns 6,379 shares of the semiconductor company’s stock worth $721,000 after acquiring an additional 3,294 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in Enphase Energy by 9.2% in the third quarter. Royal London Asset Management Ltd. now owns 56,852 shares of the semiconductor company’s stock worth $6,425,000 after purchasing an additional 4,789 shares during the period. Quarry LP bought a new stake in Enphase Energy in the third quarter valued at $37,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Enphase Energy by 168.3% during the third quarter. Two Sigma Advisers LP now owns 452,009 shares of the semiconductor company’s stock valued at $51,086,000 after purchasing an additional 283,509 shares during the period. Institutional investors own 72.12% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

ENPH has been the subject of several research reports. Redburn Atlantic assumed coverage on Enphase Energy in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Jefferies Financial Group decreased their price objective on Enphase Energy from $54.00 to $44.00 and set an “underperform” rating for the company in a report on Thursday. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Craig Hallum lowered their price objective on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial reiterated a “hold” rating and set a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.79.

Enphase Energy Trading Down 2.6 %

NASDAQ:ENPH opened at $57.27 on Friday. The firm’s 50 day moving average is $62.00 and its 200 day moving average is $73.90. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The stock has a market capitalization of $7.59 billion, a PE ratio of 77.39 and a beta of 2.12. 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 (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) 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%. Sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share 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.