California Public Employees Retirement System Reduces Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

California Public Employees Retirement System lowered its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 25.8% during the fourth quarter, Holdings Channel reports. The firm owned 168,317 shares of the semiconductor company’s stock after selling 58,607 shares during the period. California Public Employees Retirement System’s holdings in Enphase Energy were worth $11,560,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after acquiring an additional 8,000 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enphase Energy during the 4th quarter worth approximately $5,324,000. Y Intercept Hong Kong Ltd acquired a new position in Enphase Energy during the fourth quarter worth approximately $584,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Enphase Energy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,016 shares of the semiconductor company’s stock valued at $64,354,000 after acquiring an additional 56,676 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Enphase Energy Price Performance

ENPH stock opened at $57.27 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The stock’s 50 day moving average price is $62.00 and its 200 day moving average price is $73.90. The firm has a market cap of $7.59 billion, a P/E ratio of 77.39 and a beta of 2.12. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 EPS 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%. On average, sell-side analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ENPH. Piper Sandler reduced their price target on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Redburn Atlantic began coverage on Enphase Energy in a research report on Monday, March 3rd. They set a “neutral” rating for the company. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Finally, Barclays cut their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.79.

Enphase Energy Profile

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.