11,670 Shares in Enphase Energy, Inc. (NASDAQ:ENPH) Acquired by Legato Capital Management LLC

Legato Capital Management LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,670 shares of the semiconductor company's stock, valued at approximately $1,542,000.

Several other institutional investors have also modified their holdings of the stock. Insight Folios Inc acquired a new stake in shares of Enphase Energy in the fourth quarter worth approximately $232,000. Sweet Financial Partners LLC acquired a new stake in Enphase Energy during the 4th quarter worth $462,000. CX Institutional purchased a new stake in shares of Enphase Energy during the fourth quarter worth $498,000. Advisor Resource Council acquired a new stake in shares of Enphase Energy in the fourth quarter valued at about $340,000. Finally, Dudley & Shanley Inc. purchased a new position in shares of Enphase Energy in the fourth quarter worth about $2,022,000. Institutional investors and hedge funds own 71.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enphase Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $98.00 to $141.00 in a report on Monday, January 8th. Mizuho lifted their price objective on Enphase Energy from $131.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, January 3rd. Canaccord Genuity Group started coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a "buy" rating and a $142.00 target price for the company. Royal Bank of Canada began coverage on Enphase Energy in a report on Wednesday, February 14th. They set an "outperform" rating and a $140.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Enphase Energy from $120.00 to $117.00 and set a "neutral" rating for the company in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.65.

Insider Activity

In related news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares of the company's stock, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

Enphase Energy Stock Performance

ENPH stock traded down $0.77 on Friday, hitting $114.61. The company's stock had a trading volume of 2,236,828 shares, compared to its average volume of 3,353,203. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 3.19 and a beta of 1.48. The firm has a 50 day moving average of $116.73 and a two-hundred day moving average of $112.79. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a 1 year low of $73.49 and a 1 year high of $231.42.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Equities analysts predict that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal 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.