State of Tennessee Department of Treasury Sells 1,484 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

State of Tennessee Department of Treasury cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,669 shares of the semiconductor company’s stock after selling 1,484 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Enphase Energy were worth $2,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Venturi Wealth Management LLC boosted its stake in Enphase Energy by 318.1% in the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy during the fourth quarter worth $47,000. GeoWealth Management LLC boosted its position in shares of Enphase Energy by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of Enphase Energy during the fourth quarter worth $69,000. Finally, Avior Wealth Management LLC boosted its position in shares of Enphase Energy by 269.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,045 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 762 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENPH has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $54.00 price target (down from $59.00) on shares of Enphase Energy in a research report on Wednesday, April 23rd. The Goldman Sachs Group dropped their price objective on shares of Enphase Energy from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Craig Hallum dropped 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. Morgan Stanley lowered shares of Enphase Energy from an “equal weight” rating to an “underweight” rating and set a $36.00 price target on the stock. in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets lowered their price target on shares of Enphase Energy from $59.00 to $46.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.54.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy 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 transaction, the director now directly 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 disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Enphase Energy Trading Down 0.8 %

Shares of ENPH opened at $46.47 on Tuesday. Enphase Energy, Inc. has a 52-week low of $44.83 and a 52-week high of $141.63. The business’s fifty day moving average is $57.44 and its 200-day moving average is $66.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 62.80 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly 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%. Equities analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal 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.