M&T Bank Corp Boosts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

M&T Bank Corp raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 72.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,709 shares of the semiconductor company's stock after buying an additional 12,865 shares during the period. M&T Bank Corp's holdings in Enphase Energy were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in Enphase Energy during the fourth quarter valued at approximately $1,528,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enphase Energy by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,526 shares of the semiconductor company's stock valued at $3,264,000 after acquiring an additional 3,911 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Enphase Energy by 50.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 11,227 shares of the semiconductor company's stock worth $771,000 after acquiring an additional 3,753 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enphase Energy during the 4th quarter worth $5,324,000. Finally, Vestcor Inc lifted its position in shares of Enphase Energy by 158.3% during the fourth quarter. Vestcor Inc now owns 7,109 shares of the semiconductor company's stock valued at $488,000 after buying an additional 4,357 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.10% of the company's stock.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $41.85 on Friday. 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 $5.49 billion, a P/E ratio of 38.75 and a beta of 1.67. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $42.65 and its two-hundred day moving average is $54.31.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENPH. Truist Financial lowered their target price on shares of Enphase Energy from $65.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets reissued an "underperform" rating and issued a $39.00 price target (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Oppenheimer set a $84.00 price target on Enphase Energy and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, June 20th. Finally, BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a research report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Enphase Energy has an average rating of "Hold" and an average target price of $63.50.

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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