Royal London Asset Management Ltd. Purchases 7,615 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Royal London Asset Management Ltd. boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 13.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,467 shares of the semiconductor company’s stock after purchasing an additional 7,615 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Enphase Energy were worth $4,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB raised its stake in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the period. Empowered Funds LLC bought a new stake in shares of Enphase Energy during the third quarter valued at approximately $248,000. Natixis Advisors LLC lifted its holdings in shares of Enphase Energy by 4.3% in the third quarter. Natixis Advisors LLC now owns 11,261 shares of the semiconductor company’s stock worth $1,273,000 after buying an additional 468 shares in the last quarter. Quest Partners LLC boosted its position in shares of Enphase Energy by 646.5% during the third quarter. Quest Partners LLC now owns 3,471 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 3,006 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in shares of Enphase Energy by 10.3% during the third quarter. Pathstone Holdings LLC now owns 12,405 shares of the semiconductor company’s stock worth $1,402,000 after acquiring an additional 1,162 shares during the last quarter. 72.12% of the stock is owned by institutional investors.

Enphase Energy Price Performance

Enphase Energy stock opened at $61.54 on Monday. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 83.16 and a beta of 2.12. The firm has a 50-day moving average of $62.60 and a two-hundred day moving average of $77.06. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Susquehanna decreased their price target on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Barclays decreased their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their price objective on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.42.

Insider Transactions at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.