Tower Research Capital LLC TRC Increases Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Tower Research Capital LLC TRC grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 149.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,495 shares of the semiconductor company’s stock after acquiring an additional 16,454 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Enphase Energy were worth $3,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 387,343.1% during 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. Northern Trust Corp boosted its holdings in shares of Enphase Energy by 7.1% during the 3rd quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock valued at $163,479,000 after acquiring an additional 90,438 shares during the last quarter. Norges Bank purchased a new position in shares of Enphase Energy in the fourth quarter worth approximately $149,425,000. Schroder Investment Management Group boosted its holdings in shares of Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after buying an additional 35,681 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Enphase Energy by 1.4% in the third quarter. Legal & General Group Plc now owns 1,087,689 shares of the semiconductor company’s stock worth $130,686,000 after buying an additional 14,613 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $122.75 on Friday. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 63.93, a PEG ratio of 5.09 and a beta of 1.77. The firm’s fifty day moving average is $116.73 and its 200 day moving average is $116.33. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $192.22.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The business had revenue of $263.34 million for the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. Sell-side analysts forecast that Enphase Energy, Inc. will post 1.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Susquehanna reissued a “positive” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Roth Mkm reissued a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Wednesday, April 24th. Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $134.00 in a report on Friday, April 26th. Canaccord Genuity Group raised their price objective on shares of Enphase Energy from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Truist Financial lowered their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $134.10.

View Our Latest Stock Analysis on Enphase Energy

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mandy Yang purchased 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the acquisition, the chief financial officer now owns 62,973 shares in the company, valued at approximately $6,564,305.52. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 349,526 shares of company stock valued at $43,649,325. 3.40% of the stock is currently owned by company insiders.

Enphase Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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