Cynosure Group LLC Raises Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Cynosure Group LLC boosted its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 35.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,695 shares of the semiconductor company’s stock after purchasing an additional 3,315 shares during the period. Cynosure Group LLC’s holdings in Enphase Energy were worth $872,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Enphase Energy by 131.6% during 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 buying an additional 1,258,778 shares during the last quarter. Norges Bank bought a new position in shares of Enphase Energy during the 4th quarter worth $46,339,000. Assenagon Asset Management S.A. raised its stake in Enphase Energy by 372.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock valued at $31,830,000 after acquiring an additional 365,356 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Enphase Energy by 29.6% during 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 purchasing an additional 331,917 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $62.39 on Wednesday. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The stock’s 50-day moving average is $62.20 and its two-hundred day moving average is $74.79. 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 company has a market cap of $8.26 billion, a price-to-earnings ratio of 84.31 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, topping 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%. Analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BMO Capital Markets dropped 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 note on Wednesday, February 5th. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective on the stock in a report on Friday, January 31st. Barclays decreased their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Truist Financial reissued a “hold” rating and issued a $65.00 price target (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.36.

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.