Van ECK Associates Corp Sells 21,079 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Van ECK Associates Corp reduced its holdings in Enphase Energy, Inc. (NASDAQ:ENPH) by 24.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 66,453 shares of the semiconductor company’s stock after selling 21,079 shares during the quarter. Van ECK Associates Corp’s holdings in Enphase Energy were worth $4,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENPH. Nordea Investment Management AB grew its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares during the period. Mizuho Securities USA LLC grew its stake in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the period. Aspex Management HK Ltd purchased a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $48,442,000. Montrusco Bolton Investments Inc. increased its holdings in Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after acquiring an additional 424,327 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Enphase Energy by 372.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock valued at $31,830,000 after purchasing an additional 365,356 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ENPH. Roth Mkm reduced their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Morgan Stanley dropped their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Finally, Raymond James cut 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 report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.42.

Enphase Energy Stock Up 2.7 %

ENPH opened at $65.69 on Wednesday. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $67.18 and a 200 day moving average price of $85.75. The company has a market cap of $8.70 billion, a PE ratio of 88.77, a price-to-earnings-growth ratio of 8.78 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS 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%. Sell-side analysts expect that Enphase Energy, Inc. will post 2.12 earnings per share for the current fiscal year.

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.