Golden State Equity Partners Trims Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Golden State Equity Partners reduced its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,564 shares of the semiconductor company’s stock after selling 706 shares during the period. Golden State Equity Partners’ holdings in Enphase Energy were worth $471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in shares of Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Northern Trust Corp grew its position in Enphase Energy by 7.1% in the third quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock worth $163,479,000 after acquiring an additional 90,438 shares in the last quarter. Schroder Investment Management Group grew its position in Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after acquiring an additional 35,681 shares in the last quarter. Legal & General Group Plc grew its position in Enphase Energy by 1.4% in the third quarter. Legal & General Group Plc now owns 1,087,689 shares of the semiconductor company’s stock worth $130,686,000 after acquiring an additional 14,613 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after acquiring an additional 501,385 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 3.8 %

NASDAQ:ENPH opened at $111.93 on Friday. The company’s 50 day moving average price is $117.82 and its 200-day moving average price is $111.85. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $192.22. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.29 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. On average, equities research analysts forecast that Enphase Energy, Inc. will post 1.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 54,285 shares of company stock worth $6,148,228 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ENPH has been the subject of several research reports. StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Mizuho cut their price target on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Barclays upgraded shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $115.00 to $134.00 in a research report on Friday. Piper Sandler restated a “neutral” rating and set a $111.00 price target (down from $113.00) on shares of Enphase Energy in a research report on Wednesday. Finally, Canaccord Genuity Group cut their price target on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.41.

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.