Enphase Energy, Inc. (NASDAQ:ENPH) Stake Cut by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 43.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,410 shares of the semiconductor company's stock after selling 27,656 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Enphase Energy were worth $4,811,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ENPH. Geneos Wealth Management Inc. grew its holdings in Enphase Energy by 68.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 102 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $31,000. Parkside Financial Bank & Trust boosted its holdings in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company's stock valued at $37,000 after buying an additional 176 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company's stock valued at $42,000 after buying an additional 133 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Enphase Energy by 194.6% in the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company's stock valued at $44,000 after buying an additional 218 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ENPH. KeyCorp reaffirmed a "sector weight" rating on shares of Enphase Energy in a research report on Thursday, January 4th. Roth Mkm reaffirmed a "buy" rating and set a $140.00 target price on shares of Enphase Energy in a report on Thursday, April 18th. Truist Financial cut their target price on shares of Enphase Energy from $145.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday. B. Riley lifted their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a "buy" rating in a report on Monday. Finally, BMO Capital Markets lifted their target price on shares of Enphase Energy from $106.00 to $110.00 and gave the company a "market perform" rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $147.38.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard Mora sold 24,285 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares of the company's stock, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 over the last three months. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Stock Up 2.7 %

Shares of Enphase Energy stock traded up $2.97 on Tuesday, reaching $113.48. 6,364,342 shares of the company were exchanged, compared to its average volume of 4,087,372. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $228.36. The company has a market cap of $15.43 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 3.07 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The stock's 50 day moving average price is $119.28 and its 200-day moving average price is $111.97.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. As a group, equities analysts forecast that Enphase Energy, Inc. will post 2.01 EPS for the current year.

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.