Federated Hermes Inc. Buys 52,997 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Federated Hermes Inc. increased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 1,093.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 57,845 shares of the semiconductor company’s stock after purchasing an additional 52,997 shares during the quarter. Federated Hermes Inc.’s holdings in Enphase Energy were worth $7,644,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ENPH. Baillie Gifford & Co. grew its position in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the last quarter. Nordea Investment Management AB grew its position in Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Enphase Energy by 164.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 355,816 shares of the semiconductor company’s stock valued at $42,751,000 after acquiring an additional 221,281 shares during the last quarter. DNB Asset Management AS grew its position in shares of Enphase Energy by 39.5% during the 4th quarter. DNB Asset Management AS now owns 627,983 shares of the semiconductor company’s stock worth $82,982,000 after buying an additional 177,686 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Down 5.6 %

Shares of NASDAQ:ENPH opened at $107.17 on Thursday. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $228.36. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average price of $119.28 and a 200-day moving average price of $111.97.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Equities analysts predict that Enphase Energy, Inc. will post 2.01 EPS for the current year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s 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 in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ENPH shares. B. Riley increased their price target on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com downgraded Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Oppenheimer increased their price target on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Susquehanna reissued a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $141.00.

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.