Enphase Energy, Inc. (NASDAQ:ENPH) Shares Bought by Vestcor Inc

Vestcor Inc boosted its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 158.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,109 shares of the semiconductor company’s stock after purchasing an additional 4,357 shares during the period. Vestcor Inc’s holdings in Enphase Energy were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Swedbank AB raised its position in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares during the period. Sigma Planning Corp acquired a new position in shares of Enphase Energy in the third quarter worth about $210,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Enphase Energy in the third quarter worth about $208,000. Victory Capital Management Inc. raised its position in shares of Enphase Energy by 0.4% in the third quarter. Victory Capital Management Inc. now owns 53,032 shares of the semiconductor company’s stock worth $5,994,000 after acquiring an additional 228 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Enphase Energy by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 8,783 shares of the semiconductor company’s stock worth $993,000 after acquiring an additional 496 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENPH. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Barclays cut their target price on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Truist Financial reissued a “hold” rating and set a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Royal Bank of Canada cut their target price on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Finally, Glj Research reissued a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $90.42.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction 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 represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $58.13 on Monday. The firm’s 50 day moving average price is $63.40 and its 200-day moving average price is $79.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a one year low of $51.63 and a one year high of $141.63. The firm has a market cap of $7.70 billion, a P/E ratio of 78.56 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 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, equities research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.