Connor Clark & Lunn Investment Management Ltd. Makes New $5.32 Million Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,521 shares of the semiconductor company’s stock, valued at approximately $5,324,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Enphase Energy as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Enphase Energy during the third quarter worth $34,000. Quarry LP acquired a new position in Enphase Energy during the third quarter worth $37,000. Venturi Wealth Management LLC lifted its stake in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 509 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Enphase Energy during the third quarter worth $55,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $58.13 on Monday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a 52-week low of $51.63 and a 52-week high of $141.63. The business’s 50-day moving average price is $63.40 and its 200 day moving average price is $79.02. The firm has a market cap of $7.70 billion, a P/E ratio of 78.56 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENPH has been the topic of a number of research reports. Oppenheimer increased their price objective on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Barclays reduced their price objective on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Piper Sandler reduced their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price objective on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.42.

Insider Buying and Selling

In related news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction 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. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.