Enphase Energy, Inc. (NASDAQ:ENPH) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 45.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,758 shares of the semiconductor company’s stock after buying an additional 28,742 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Enphase Energy worth $6,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENPH. Murphy & Mullick Capital Management Corp acquired a new stake in Enphase Energy during the fourth quarter worth about $96,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Enphase Energy by 28.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 393,453 shares of the semiconductor company’s stock valued at $27,022,000 after buying an additional 86,666 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $270,000. Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after buying an additional 44,782 shares during the last quarter. Finally, Mizuho Markets Cayman LP raised its position in shares of Enphase Energy by 118.6% during the 4th quarter. Mizuho Markets Cayman LP now owns 11,153 shares of the semiconductor company’s stock valued at $766,000 after buying an additional 6,050 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction dated 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 sale, the director now owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the company’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 sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This represents 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 currently owned by company insiders.

Enphase Energy Stock Up 0.6 %

ENPH stock opened at $62.05 on Tuesday. The company’s 50 day moving average is $62.21 and its two-hundred day moving average is $75.12. Enphase Energy, Inc. has a twelve month low of $51.63 and a twelve month high of $141.63. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The stock has a market cap of $8.22 billion, a P/E ratio of 83.85 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, 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%. Research analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on ENPH shares. Wells Fargo & Company cut their target price on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Citigroup cut shares of Enphase Energy from a “neutral” rating to a “negative” rating in a research report on Wednesday, March 26th. BMO Capital Markets dropped their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Finally, Guggenheim upgraded shares of 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. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.36.

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.