Clearbridge Investments LLC Reduces Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Clearbridge Investments LLC reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,073 shares of the semiconductor company’s stock after selling 25,227 shares during the quarter. Clearbridge Investments LLC owned approximately 0.11% of Enphase Energy worth $10,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENPH. Schroder Investment Management Group boosted its holdings in Enphase Energy by 29.6% in the fourth quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company’s stock valued at $99,683,000 after acquiring an additional 331,917 shares during the last quarter. Allstate Corp purchased a new stake in shares of Enphase Energy during the 4th quarter worth about $273,000. DnB Asset Management AS increased its position in Enphase Energy by 1.2% during the 4th quarter. DnB Asset Management AS now owns 512,031 shares of the semiconductor company’s stock worth $35,166,000 after purchasing an additional 6,180 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Enphase Energy by 2.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 86,411 shares of the semiconductor company’s stock valued at $5,935,000 after buying an additional 1,817 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its position in Enphase Energy by 14.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 25,724 shares of the semiconductor company’s stock valued at $1,767,000 after buying an additional 3,297 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ENPH. Piper Sandler cut their target price on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Oppenheimer increased their target price on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Susquehanna dropped their target price on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average price target of $90.36.

Enphase Energy Trading Up 0.2 %

Shares of NASDAQ:ENPH opened at $62.52 on Thursday. 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’s 50-day moving average price is $62.23 and its 200 day moving average price is $74.70. The company has a market cap of $8.28 billion, a PE ratio of 84.49 and a beta of 2.12. Enphase Energy, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $141.63.

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

Insider Transactions at Enphase Energy

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s 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 $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at approximately $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.