KLP Kapitalforvaltning AS Invests $6.13 Million in Enphase Energy, Inc. (NASDAQ:ENPH)

KLP Kapitalforvaltning AS bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 89,200 shares of the semiconductor company’s stock, valued at approximately $6,126,000. KLP Kapitalforvaltning AS owned 0.07% of Enphase Energy at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ENPH. Umpqua Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $557,000. Quantbot Technologies LP acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $3,064,000. Blueshift Asset Management LLC purchased a new position in shares of Enphase Energy during the 4th quarter valued at approximately $392,000. Royal London Asset Management Ltd. lifted its stake in shares of Enphase Energy by 13.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 64,467 shares of the semiconductor company’s stock valued at $4,428,000 after purchasing an additional 7,615 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in Enphase Energy by 15.6% during the fourth quarter. Cibc World Markets Corp now owns 21,304 shares of the semiconductor company’s stock worth $1,463,000 after buying an additional 2,869 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ENPH shares. Glj Research reiterated a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Oppenheimer increased their price target on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Craig Hallum reduced their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Susquehanna cut their price target on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $62.77 on Wednesday. The stock has a market cap of $8.32 billion, a PE ratio of 84.83 and a beta of 2.12. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The stock has a fifty day simple moving average of $62.45 and a 200-day simple moving average of $76.39. 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 (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on 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 transaction, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

About Enphase Energy

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.