Charles Schwab Investment Management Inc. Grows Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Charles Schwab Investment Management Inc. raised its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 937,016 shares of the semiconductor company’s stock after purchasing an additional 56,676 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Enphase Energy worth $64,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empirical Finance LLC increased its stake in shares of Enphase Energy by 3.9% during the 3rd quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 137 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Enphase Energy by 5.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 153 shares during the last quarter. Gould Capital LLC increased its stake in shares of Enphase Energy by 2.1% during the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after acquiring an additional 212 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Enphase Energy by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 53,032 shares of the semiconductor company’s stock valued at $5,994,000 after acquiring an additional 228 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENPH. Redburn Atlantic began coverage on shares of Enphase Energy in a research note on Monday, March 3rd. They set a “neutral” rating for the company. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Citigroup increased their target price on shares of Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Barclays dropped their target price on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Stock Performance

Shares of ENPH opened at $58.48 on Thursday. The business’s fifty day moving average price is $64.15 and its 200 day moving average price is $80.39. Enphase Energy, Inc. has a 12-month low of $51.63 and a 12-month high of $141.63. The stock has a market capitalization of $7.75 billion, a PE ratio of 79.03 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Equities research analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total value 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 $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

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.