Victory Capital Management Inc. Cuts Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Victory Capital Management Inc. lowered its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,873 shares of the semiconductor company’s stock after selling 19,159 shares during the quarter. Victory Capital Management Inc.’s holdings in Enphase Energy were worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after buying an additional 279 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $34,000. Quarry LP purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $37,000. Venturi Wealth Management LLC boosted its stake in shares of Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 509 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Enphase Energy during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Wall Street Analyst Weigh In

ENPH has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Susquehanna dropped their price objective on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Oppenheimer increased their price objective on Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Morgan Stanley dropped their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.42.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $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 insiders.

Enphase Energy Price Performance

ENPH opened at $63.80 on Tuesday. The stock has a 50-day moving average price of $63.25 and a 200-day moving average price of $78.62. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The firm has a market cap of $8.45 billion, a PE ratio of 86.22 and a beta of 2.12. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its 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%. Sell-side analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal 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.