Norges Bank Makes New $46.34 Million Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Norges Bank acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 674,703 shares of the semiconductor company’s stock, valued at approximately $46,339,000. Norges Bank owned approximately 0.50% of Enphase Energy at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ENPH. NEOS Investment Management LLC raised its position in Enphase Energy by 26.7% during the fourth quarter. NEOS Investment Management LLC now owns 5,888 shares of the semiconductor company’s stock worth $404,000 after acquiring an additional 1,240 shares during the period. Sava Infond d.o.o. purchased a new stake in shares of Enphase Energy during the fourth quarter worth about $69,000. WINTON GROUP Ltd acquired a new position in shares of Enphase Energy during the 4th quarter worth about $476,000. Artisan Partners Limited Partnership purchased a new position in Enphase Energy in the 4th quarter valued at about $15,857,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Enphase Energy by 10.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,132 shares of the semiconductor company’s stock worth $15,594,000 after buying an additional 19,743 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $57.27 on Friday. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 77.39 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The business has a 50-day moving average of $62.00 and a 200 day moving average of $74.21. Enphase Energy, Inc. has a 12 month low of $51.63 and a 12 month 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 the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, sell-side analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction dated 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 owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction 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. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ENPH. Barclays reduced their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Piper Sandler reduced their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Oppenheimer lifted their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. TD Cowen reduced their target price on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, BMO Capital Markets lowered their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $89.79.

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.