Enphase Energy, Inc. (NASDAQ:ENPH) Stock Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 129.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,709 shares of the semiconductor company’s stock after purchasing an additional 4,349 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Enphase Energy were worth $1,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E Fund Management Co. Ltd. grew its position in Enphase Energy by 5.5% during the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock valued at $303,000 after purchasing an additional 131 shares in the last quarter. Covestor Ltd lifted its stake in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the last quarter. Valley Wealth Managers Inc. lifted its stake in shares of Enphase Energy by 12.3% in the third quarter. Valley Wealth Managers Inc. now owns 1,323 shares of the semiconductor company’s stock worth $159,000 after buying an additional 145 shares during the last quarter. Prosperity Wealth Management Inc. boosted its holdings in shares of Enphase Energy by 6.3% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 2,520 shares of the semiconductor company’s stock worth $303,000 after buying an additional 150 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of Enphase Energy by 6.5% during the 3rd quarter. Intact Investment Management Inc. now owns 2,450 shares of the semiconductor company’s stock worth $294,000 after buying an additional 150 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of research reports. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th. Guggenheim cut shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price for the company. in a research report on Wednesday, April 24th. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a report on Thursday, January 4th. Piper Sandler reissued a “neutral” rating and set a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday, April 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Price Performance

Shares of ENPH opened at $111.93 on Monday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The business’s fifty day moving average is $117.82 and its 200 day moving average is $111.63. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The stock has a market cap of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.29 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Sell-side analysts anticipate that Enphase Energy, Inc. will post 1.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 24,285 shares of the firm’s 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 approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated 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 owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 54,285 shares of company stock valued at $6,148,228 in the last ninety days. 3.40% of the stock is currently owned by insiders.

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.