Mutual of America Capital Management LLC Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Mutual of America Capital Management LLC cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 18,269 shares of the semiconductor company’s stock after selling 810 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Enphase Energy were worth $2,414,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its position in Enphase Energy by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock valued at $1,603,000 after buying an additional 48 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Enphase Energy by 1.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,222 shares of the semiconductor company’s stock valued at $852,000 after buying an additional 72 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Enphase Energy by 7.8% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,100 shares of the semiconductor company’s stock valued at $251,000 after buying an additional 80 shares during the period. KB Financial Partners LLC boosted its position in Enphase Energy by 39.8% during the second quarter. KB Financial Partners LLC now owns 309 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 88 shares during the period. Finally, M Holdings Securities Inc. boosted its position in Enphase Energy by 2.0% during the first quarter. M Holdings Securities Inc. now owns 5,118 shares of the semiconductor company’s stock valued at $1,071,000 after buying an additional 100 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ENPH shares. Susquehanna restated a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Oppenheimer upgraded shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price target for the company in a research report on Wednesday, February 7th. Barclays increased their target price on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Piper Sandler dropped their target price 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. Finally, BMO Capital Markets increased their target price on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.88.

Enphase Energy Price Performance

ENPH stock opened at $106.48 on Friday. The firm has a 50 day moving average price of $119.85 and a 200-day moving average price of $112.10. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $228.36. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.10 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Equities research analysts forecast that Enphase Energy, Inc. will post 2.09 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred 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 directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

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.