Enphase Energy, Inc. (NASDAQ:ENPH) Stock Holdings Lifted by Westpac Banking Corp

Westpac Banking Corp raised its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 40.0% in the fourth quarter, Holdings Channel reports. The firm owned 13,458 shares of the semiconductor company’s stock after buying an additional 3,843 shares during the period. Westpac Banking Corp’s holdings in Enphase Energy were worth $924,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board lifted its stake in Enphase Energy by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company’s stock valued at $658,000 after acquiring an additional 600 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Enphase Energy by 106.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,379 shares of the semiconductor company’s stock valued at $721,000 after purchasing an additional 3,294 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in Enphase Energy by 9.2% in the third quarter. Royal London Asset Management Ltd. now owns 56,852 shares of the semiconductor company’s stock worth $6,425,000 after purchasing an additional 4,789 shares in the last quarter. Quarry LP acquired a new position in Enphase Energy during the third quarter worth $37,000. Finally, Two Sigma Advisers LP lifted its position in shares of Enphase Energy by 168.3% in the third quarter. Two Sigma Advisers LP now owns 452,009 shares of the semiconductor company’s stock worth $51,086,000 after buying an additional 283,509 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENPH has been the topic of a number of recent analyst reports. Redburn Atlantic assumed coverage on Enphase Energy in a research note on Monday, March 3rd. They issued a “neutral” rating on the stock. Susquehanna reduced their price objective on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Guggenheim upgraded shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a research note on Friday, January 31st. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Craig Hallum lowered their price target on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.79.

Enphase Energy Trading Down 2.6 %

Shares of ENPH stock opened at $57.27 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $7.59 billion, a P/E ratio of 77.39 and a beta of 2.12. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. The firm has a 50-day moving average price of $62.00 and a 200 day moving average price of $74.21.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now 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 disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

About Enphase Energy

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.