Migdal Insurance & Financial Holdings Ltd. Purchases 6,596 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 251.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,221 shares of the semiconductor company’s stock after buying an additional 6,596 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Enphase Energy were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Enphase Energy during the fourth quarter worth $415,000. Slow Capital Inc. acquired a new stake in shares of Enphase Energy during the 4th quarter valued at about $3,263,000. Sloy Dahl & Holst LLC boosted its position in shares of Enphase Energy by 1.5% during the 4th quarter. Sloy Dahl & Holst LLC now owns 35,398 shares of the semiconductor company’s stock valued at $4,677,000 after acquiring an additional 527 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in Enphase Energy by 31.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 788 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 189 shares during the period. Finally, United Asset Strategies Inc. raised its position in Enphase Energy by 46.8% in the fourth quarter. United Asset Strategies Inc. now owns 6,205 shares of the semiconductor company’s stock worth $820,000 after purchasing an additional 1,977 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENPH shares. Susquehanna reaffirmed a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Canaccord Genuity Group began coverage on Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective for the company. Piper Sandler cut their price objective on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. Morgan Stanley boosted their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $149.94.

Enphase Energy Stock Up 1.4 %

Shares of NASDAQ ENPH opened at $112.05 on Thursday. The stock has a market cap of $15.24 billion, a P/E ratio of 36.62, a P/E/G ratio of 3.06 and a beta of 1.47. The firm has a 50 day moving average price of $120.33 and a 200 day moving average price of $112.19. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $231.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Analysts expect that Enphase Energy, Inc. will post 2.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 in the last three months. 3.40% of the stock is currently 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.