Thurman J. Rodgers Sells 100,000 Shares of Enphase Energy, Inc. (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPH) 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 transaction, the director now owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Enphase Energy Trading Up 5.0 %

Shares of ENPH stock opened at $61.63 on Friday. Enphase Energy, Inc. has a 1 year low of $51.63 and a 1 year high of $141.63. 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 stock’s 50 day simple moving average is $64.45 and its two-hundred day simple moving average is $81.46. The company has a market cap of $8.16 billion, a PE ratio of 83.28 and a beta of 2.12.

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%. Research analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada cut their target price 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. Craig Hallum cut their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Glj Research restated a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a research note on Tuesday, February 4th. Morgan Stanley cut their target price 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. Finally, Redburn Atlantic assumed coverage on Enphase Energy in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $90.42.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Charles Schwab Investment Management Inc. lifted its holdings in shares of Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after buying an additional 16,234 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Enphase Energy in the 3rd quarter valued at about $37,475,000. Mizuho Securities USA LLC lifted its holdings in shares of 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 buying an additional 438,424 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.