Enphase Energy, Inc. (NASDAQ:ENPH) Stock Holdings Lessened by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management decreased its stake in Enphase Energy by 31.1%, owning 148,816 shares worth $9.23 million after selling 67,316 shares during the first quarter.
• Enphase Energy reported $0.69 EPS for the latest quarter, exceeding estimates by $0.07, with revenue of $363.15 million, marking a 19.7% increase year-over-year.
• Institutional investors hold 72.12% of Enphase Energy's stock, with several hedge funds like Baillie Gifford and GAMMA Investing significantly increasing their investments in the company.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 31.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,816 shares of the semiconductor company's stock after selling 67,316 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Enphase Energy worth $9,234,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in Enphase Energy by 4.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 90,379 shares of the semiconductor company's stock worth $6,208,000 after buying an additional 3,534 shares during the last quarter. Cohen & Steers Inc. lifted its stake in Enphase Energy by 12.9% during the fourth quarter. Cohen & Steers Inc. now owns 29,246 shares of the semiconductor company's stock worth $2,009,000 after purchasing an additional 3,350 shares during the last quarter. XTX Topco Ltd bought a new position in Enphase Energy during the fourth quarter worth $964,000. Canada Post Corp Registered Pension Plan bought a new position in Enphase Energy during the fourth quarter worth $109,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in Enphase Energy during the fourth quarter worth $932,000. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Price Performance

NASDAQ:ENPH traded up $0.66 during midday trading on Wednesday, hitting $34.22. 6,968,940 shares of the stock were exchanged, compared to its average volume of 9,176,462. Enphase Energy, Inc. has a one year low of $29.89 and a one year high of $130.08. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 26.73 and a beta of 1.59. The business has a 50-day moving average price of $38.43 and a two-hundred day moving average price of $49.28. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The company had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company's quarterly revenue was up 19.7% compared to the same quarter last year. Sell-side analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the acquisition, the chief executive officer directly owned 1,620,632 shares of the company's stock, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ENPH. Mizuho reduced their price target on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Guggenheim reissued a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a report on Wednesday, April 23rd. BMO Capital Markets reissued an "underperform" rating and issued a $39.00 target price (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. DZ Bank cut shares of Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. Finally, Susquehanna cut their price target on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. Thirteen research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Enphase Energy presently has a consensus rating of "Hold" and a consensus target price of $55.22.

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.