Enphase Energy, Inc. (NASDAQ:ENPH) Stake Reduced by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 99.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614 shares of the semiconductor company's stock after selling 275,731 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Enphase Energy were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ENPH. CX Institutional acquired a new position in Enphase Energy during the 1st quarter worth $29,000. First Horizon Advisors Inc. boosted its position in Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 258 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Enphase Energy during the 4th quarter worth $47,000. GeoWealth Management LLC boosted its position in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 321 shares during the period. Finally, Sava Infond d.o.o. acquired a new position in Enphase Energy during the 4th quarter worth $69,000. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ENPH has been the subject of several research analyst reports. Oppenheimer set a $84.00 price objective on Enphase Energy and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Morgan Stanley lowered Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective for the company. in a report on Wednesday, April 23rd. Citigroup cut their price objective on Enphase Energy from $47.00 to $43.00 and set a "sell" rating for the company in a report on Thursday, June 5th. Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the company a "sector perform" rating in a report on Wednesday, June 18th. Finally, Canaccord Genuity Group cut their price objective on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Thirteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of "Hold" and an average price target of $61.20.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the transaction, the chief executive officer owned 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company's stock.

Enphase Energy Price Performance

Shares of ENPH stock opened at $39.58 on Friday. The stock has a 50 day moving average of $42.00 and a two-hundred day moving average of $53.25. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. Enphase Energy, Inc. has a 12 month low of $33.01 and a 12 month high of $130.08. The company has a market capitalization of $5.19 billion, a P/E ratio of 36.65 and a beta of 1.67.

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.

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