Migdal Insurance & Financial Holdings Ltd. Boosts Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 251.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,221 shares of the semiconductor company’s stock after buying an additional 6,596 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Enphase Energy were worth $1,225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENPH. Baillie Gifford & Co. grew its position in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the period. Norges Bank purchased a new stake in shares of Enphase Energy during the 4th quarter worth about $325,230,000. Nordea Investment Management AB increased its position in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Enphase Energy by 86.2% in the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock valued at $161,657,000 after buying an additional 370,992 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Enphase Energy by 67.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock valued at $185,938,000 after buying an additional 356,495 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on ENPH. BMO Capital Markets raised their target price on shares of Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Piper Sandler decreased their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research report on Friday, January 12th. Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $126.00 to $121.00 in a report on Friday, April 5th. Finally, Mizuho upped their price target on Enphase Energy from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $149.94.

Enphase Energy Stock Up 1.4 %

Shares of Enphase Energy stock opened at $112.05 on Thursday. The stock has a market capitalization of $15.24 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 3.06 and a beta of 1.47. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $231.42. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The business’s 50 day simple moving average is $120.33 and its 200-day simple moving average is $112.19.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Equities research analysts forecast that Enphase Energy, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 in the last quarter. Company insiders own 3.40% of the company’s stock.

Enphase Energy Company 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.