MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,083 shares of the semiconductor company's stock after purchasing an additional 5,350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Enphase Energy were worth $4,264,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ENPH. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of Enphase Energy by 72.7% during the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock worth $1,305,000 after acquiring an additional 8,000 shares during the last quarter. Norges Bank purchased a new position in Enphase Energy in the 4th quarter valued at $46,339,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enphase Energy in the 4th quarter valued at $5,324,000. Y Intercept Hong Kong Ltd purchased a new position in Enphase Energy in the 4th quarter valued at $584,000. Finally, Charles Schwab Investment Management Inc. grew its position in Enphase Energy by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company's stock valued at $64,354,000 after buying an additional 56,676 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lowered shares of Enphase Energy from an "equal weight" rating to an "underweight" rating and set a $36.00 price objective on the stock. in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price objective on shares of Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler reduced their target price on Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $68.87.

Insider Activity at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at approximately $74,099,559.60. This represents a 0.25% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by corporate insiders.

Enphase Energy Trading Down 3.2%

Shares of ENPH stock opened at $48.78 on Tuesday. The firm has a 50-day moving average price of $53.21 and a 200 day moving average price of $62.17. Enphase Energy, Inc. has a twelve month low of $43.09 and a twelve month high of $141.63. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 65.92 and a beta of 1.80. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

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.

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