Sumitomo Mitsui Trust Group Inc. Has $21.14 Million Stock Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Sumitomo Mitsui Trust Group Inc. cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 307,827 shares of the semiconductor company’s stock after selling 6,816 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Enphase Energy worth $21,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its position in Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock worth $87,000 after purchasing an additional 125 shares in the last quarter. Empirical Finance LLC raised its position in Enphase Energy by 3.9% in the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 137 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Enphase Energy by 5.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 153 shares in the last quarter. Farther Finance Advisors LLC raised its position in Enphase Energy by 19.1% in the third quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 174 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Enphase Energy by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company’s stock worth $6,206,000 after purchasing an additional 190 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Wednesday, October 23rd. Craig Hallum dropped their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. TD Cowen dropped their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Piper Sandler dropped their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Price Performance

Shares of ENPH stock opened at $61.12 on Thursday. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The stock has a market cap of $8.26 billion, a PE ratio of 82.60, a PEG ratio of 8.78 and a beta of 1.68. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.88 and a current ratio of 3.53. The firm’s 50 day moving average price is $67.91 and its two-hundred day moving average price is $87.23.

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, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. As a group, analysts forecast that Enphase Energy, Inc. will post 2.12 EPS for the current year.

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.