Mitsubishi UFJ Asset Management Co. Ltd. Cuts Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,697 shares of the semiconductor company’s stock after selling 899 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Enphase Energy worth $17,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC purchased a new stake in Enphase Energy during the 4th quarter worth about $26,000. CVA Family Office LLC acquired a new stake in Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust raised its holdings in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares in the last quarter. Addison Advisors LLC grew its holdings in Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 304 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Enphase Energy by 194.6% in the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 218 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Shares of ENPH opened at $114.32 on Friday. The company has a 50-day moving average of $113.94 and a two-hundred day moving average of $112.16. The stock has a market cap of $15.55 billion, a P/E ratio of 59.54, a PEG ratio of 4.18 and a beta of 1.50. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, research analysts predict that Enphase Energy, Inc. will post 1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their target price on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Craig Hallum cut their price target on Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Truist Financial decreased their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Finally, TD Cowen lifted their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $133.45.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. In the last quarter, insiders sold 30,000 shares of company stock worth $3,219,700. 3.40% of the stock is owned by corporate insiders.

Enphase Energy Company 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.