Financial Advisors Network Inc. Grows Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Financial Advisors Network Inc. lifted its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,480 shares of the semiconductor company’s stock after buying an additional 1,480 shares during the period. Financial Advisors Network Inc.’s holdings in Enphase Energy were worth $724,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Baillie Gifford & Co. raised 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 buying an additional 4,078,723 shares in the last quarter. Northern Trust Corp grew its position in Enphase Energy by 7.1% during the 3rd quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock worth $163,479,000 after acquiring an additional 90,438 shares during the last quarter. Norges Bank bought a new position in Enphase Energy during the 4th quarter worth approximately $149,425,000. Schroder Investment Management Group grew its position in Enphase Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after acquiring an additional 35,681 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Enphase Energy by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 1,087,689 shares of the semiconductor company’s stock worth $130,686,000 after acquiring an additional 14,613 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENPH has been the topic of several recent research reports. Oppenheimer raised 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, April 24th. Mizuho lowered their price objective on Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 24th. Piper Sandler reiterated a “neutral” rating and set a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. Finally, BMO Capital Markets lowered their price objective on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $133.45.

Enphase Energy Stock Up 8.6 %

Enphase Energy stock traded up $9.59 during midday trading on Wednesday, hitting $121.09. 7,491,768 shares of the company’s stock were exchanged, compared to its average volume of 4,115,381. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The company has a market cap of $16.48 billion, a PE ratio of 61.10, a P/E/G ratio of 4.06 and a beta of 1.50. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $192.22. The firm has a 50-day moving average of $113.45 and a two-hundred day moving average of $113.10.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $263.34 million for the quarter, compared to analyst estimates of $280.06 million. As a group, analysts expect that Enphase Energy, Inc. will post 1.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were acquired 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 of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 30,000 shares of company stock valued at $3,219,700. Company insiders own 3.40% of the company’s stock.

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.