State Board of Administration of Florida Retirement System Sells 6,070 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

State Board of Administration of Florida Retirement System lowered its stake in Enphase Energy, Inc. (NASDAQ:ENPHFree Report) by 4.3% during the third quarter, Holdings Channel reports. 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’s holdings in Enphase Energy were worth $16,372,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Van Hulzen Asset Management LLC bought a new position in shares of Enphase Energy in the second quarter worth $443,000. Marshall Wace LLP boosted its stake in Enphase Energy by 326.2% in the second quarter. Marshall Wace LLP now owns 160,359 shares of the semiconductor company’s stock valued at $26,857,000 after buying an additional 122,735 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Enphase Energy by 8.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after buying an additional 10,729 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Enphase Energy by 164.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 355,816 shares of the semiconductor company’s stock valued at $42,751,000 after buying an additional 221,281 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Enphase Energy by 2.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,870 shares of the semiconductor company’s stock valued at $3,108,000 after buying an additional 600 shares in the last quarter. Institutional investors own 71.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ENPH. Morgan Stanley raised their price objective on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group reduced their price objective on Enphase Energy from $180.00 to $158.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target on the stock. Finally, Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.23.

View Our Latest Research Report on ENPH

Enphase Energy Trading Up 4.8 %

NASDAQ ENPH opened at $122.47 on Monday. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 3.39 and a beta of 1.48. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $231.42. The business has a 50 day moving average price of $115.40 and a 200-day moving average price of $115.29. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was purchased at an average price of $90.23 per share, for a total transaction of $100,877.14. Following the completion of the acquisition, the chief executive officer now directly owns 1,272,015 shares in the company, valued at approximately $114,773,913.45. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.20% of the company’s stock.

About Enphase Energy

(Free Report)

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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Institutional Ownership by Quarter for Enphase Energy (NASDAQ:ENPH)

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