Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,318 shares of the semiconductor company’s stock after acquiring an additional 336 shares during the period. Arizona State Retirement System’s holdings in Enphase Energy were worth $2,700,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ENPH. Charles Schwab Investment Management Inc. raised its position in shares of Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares during the period. Erste Asset Management GmbH purchased a new position in Enphase Energy in the 3rd quarter worth about $37,475,000. Mizuho Securities USA LLC increased its stake in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Enphase Energy by 15.9% during the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares in the last quarter. Finally, Swedbank AB lifted its stake in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ENPH. TD Cowen cut their price target on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Barclays cut their target price on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada decreased their target price on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Oppenheimer lifted their price target on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reduced their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.42.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Trading Up 5.0 %

NASDAQ:ENPH opened at $61.63 on Monday. The company’s 50 day moving average is $64.45 and its 200-day moving average is $81.20. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month high of $141.63. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Equities analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current year.

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.