First Trust Advisors LP increased its holdings in Enphase Energy Inc (NASDAQ:ENPH) by 187.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 446,337 shares of the semiconductor company’s stock after purchasing an additional 291,066 shares during the period. First Trust Advisors LP’s holdings in Enphase Energy were worth $11,663,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new stake in Enphase Energy during the fourth quarter valued at approximately $3,034,000. GWM Advisors LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $253,000. Creative Planning raised its position in shares of Enphase Energy by 574.4% during the 4th quarter. Creative Planning now owns 68,617 shares of the semiconductor company’s stock worth $1,793,000 after purchasing an additional 58,442 shares during the period. Apollon Wealth Management LLC raised its position in shares of Enphase Energy by 53.0% during the 4th quarter. Apollon Wealth Management LLC now owns 15,300 shares of the semiconductor company’s stock worth $471,000 after purchasing an additional 5,300 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $314,000. 44.62% of the stock is owned by institutional investors and hedge funds.
In related news, COO Jeff Mcneil sold 7,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $20.02, for a total value of $140,140.00. Following the completion of the transaction, the chief operating officer now directly owns 305,038 shares of the company’s stock, valued at approximately $6,106,860.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric Branderiz acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $17.70 per share, with a total value of $177,000.00. The disclosure for this purchase can be found here. Corporate insiders own 12.46% of the company’s stock.
A number of analysts have recently weighed in on ENPH shares. Goldman Sachs Group started coverage on Enphase Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $31.00 price target on the stock. TheStreet upgraded Enphase Energy from a “c+” rating to a “b” rating in a research report on Thursday, January 2nd. BidaskClub upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Roth Capital set a $30.00 price target on Enphase Energy and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, B. Riley cut Enphase Energy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $28.00 to $35.00 in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.46.
Shares of ENPH stock opened at $41.09 on Friday. Enphase Energy Inc has a 12-month low of $7.01 and a 12-month high of $42.39. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 121.59 and a beta of 0.93. The business has a 50 day simple moving average of $32.29 and a 200 day simple moving average of $26.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.67 and a quick ratio of 2.46.
Enphase Energy Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that 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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