State Board of Administration of Florida Retirement System lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,261 shares of the semiconductor company’s stock after selling 6,070 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of Enphase Energy worth $16,372,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of ENPH. Norges Bank acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $325,230,000. UniSuper Management Pty Ltd acquired a new position in shares of Enphase Energy in the second quarter valued at approximately $82,773,000. Clearbridge Investments LLC increased its holdings in shares of Enphase Energy by 86.2% in the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock valued at $161,657,000 after purchasing an additional 370,992 shares during the period. Bank of Montreal Can acquired a new position in Enphase Energy during the second quarter worth $66,424,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Enphase Energy by 67.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after acquiring an additional 356,495 shares during the period. Institutional investors and hedge funds own 71.05% of the company’s stock.
Enphase Energy Stock Performance
Shares of NASDAQ:ENPH opened at $122.47 on Monday. The firm has a market capitalization of $16.72 billion, a PE ratio of 40.02, a P/E/G ratio of 3.39 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The business has a 50-day moving average of $115.40 and a two-hundred day moving average of $115.29. Enphase Energy, Inc. has a 12 month low of $73.49 and a 12 month high of $231.42.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ENPH. Canaccord Genuity Group began coverage on Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective on the stock. Roth Mkm dropped their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Mizuho upped their price objective on Enphase Energy from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Canaccord Genuity Group began coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.23.
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 services.
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