Connor Clark & Lunn Investment Management Ltd. Takes Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 77,521 shares of the semiconductor company’s stock, valued at approximately $5,324,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENPH. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after acquiring an additional 2,028,691 shares during the period. Nordea Investment Management AB increased its stake 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 worth $155,360,000 after purchasing an additional 1,258,778 shares in the last quarter. Aspex Management HK Ltd purchased a new position in shares of Enphase Energy during the 3rd quarter worth approximately $48,442,000. Montrusco Bolton Investments Inc. increased its stake in shares of Enphase Energy by 93.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after purchasing an additional 424,327 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Enphase Energy by 372.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock worth $31,830,000 after purchasing an additional 365,356 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Up 0.2 %

Shares of Enphase Energy stock opened at $58.13 on Monday. The company has a fifty day moving average price of $63.40 and a 200 day moving average price of $79.02. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 78.56 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share 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%. Equities research analysts forecast that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Northland Securities dropped their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Citigroup raised their price objective on shares of Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Glj Research reissued a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $90.42.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $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. 3.40% of the stock is owned by corporate insiders.

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.