Artisan Partners Limited Partnership Makes New $15.86 Million Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Artisan Partners Limited Partnership acquired a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, HoldingsChannel reports. The fund acquired 230,877 shares of the semiconductor company’s stock, valued at approximately $15,857,000.

A number of other hedge funds also recently bought and sold shares of ENPH. Erste Asset Management GmbH purchased a new position in shares of Enphase Energy during the third quarter worth approximately $37,475,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in Enphase Energy by 72.7% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock worth $1,305,000 after purchasing an additional 8,000 shares during the period. Nordea Investment Management AB lifted its stake in Enphase Energy by 131.6% in the fourth 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Enphase Energy during the fourth quarter valued at about $5,324,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Enphase Energy during the fourth quarter valued at about $584,000. Institutional investors own 72.12% of the company’s stock.

Insider Activity

In other news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the chief financial officer now owns 78,524 shares of the company’s stock, 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. Corporate insiders own 3.40% of the company’s stock.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $61.65 on Friday. The business has a fifty day moving average price of $62.24 and a 200-day moving average price of $75.88. 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 capitalization of $8.17 billion, a PE ratio of 83.31 and a beta of 2.12. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts expect that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENPH has been the subject of several analyst reports. Glj Research restated a “sell” rating and set a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Truist Financial restated a “hold” rating and issued a $65.00 target price (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Oppenheimer upped their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Redburn Atlantic initiated coverage on shares of Enphase Energy in a report on Monday, March 3rd. They issued a “neutral” rating on the stock. Finally, Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective for the company in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $90.36.

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.