State of Tennessee Department of Treasury Sells 1,484 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

State of Tennessee Department of Treasury cut its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,669 shares of the semiconductor company’s stock after selling 1,484 shares during the period. State of Tennessee Department of Treasury’s holdings in Enphase Energy were worth $2,450,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Inspire Investing LLC raised its position in shares of Enphase Energy by 2.0% in the 4th quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock worth $1,098,000 after acquiring an additional 318 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of Enphase Energy by 6.0% in the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 328 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Enphase Energy by 0.9% in the 4th quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock worth $2,700,000 after purchasing an additional 336 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Enphase Energy by 0.9% in the 4th quarter. MetLife Investment Management LLC now owns 41,504 shares of the semiconductor company’s stock worth $2,850,000 after purchasing an additional 361 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on 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 transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the completion of the sale, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Enphase Energy Stock Down 0.8 %

ENPH stock opened at $46.47 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $6.10 billion, a PE ratio of 62.80 and a beta of 1.94. Enphase Energy, Inc. has a twelve month low of $44.83 and a twelve month high of $141.63. The stock has a 50-day simple moving average of $57.44 and a two-hundred day simple moving average of $66.42.

Enphase Energy (NASDAQ:ENPH) last posted its 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 return on equity of 15.62% and a net margin of 7.72%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ENPH shares. Jefferies Financial Group cut their target price on Enphase Energy from $44.00 to $37.00 and set an “underperform” rating on the stock in a report on Wednesday, April 23rd. BMO Capital Markets cut their target price on Enphase Energy from $59.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their target price on Enphase Energy from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Citigroup restated a “sell” rating and set a $47.00 price objective on shares of Enphase Energy in a research note on Thursday, April 17th. Finally, Oppenheimer set a $84.00 price objective on Enphase Energy and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.54.

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.