Federated Hermes Inc. Raises Stake in Enphase Energy, Inc. (NASDAQ:ENPH)

Federated Hermes Inc. increased its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 1,093.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,845 shares of the semiconductor company’s stock after buying an additional 52,997 shares during the quarter. Federated Hermes Inc.’s holdings in Enphase Energy were worth $7,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Enphase Energy by 251.3% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,221 shares of the semiconductor company’s stock valued at $1,225,000 after purchasing an additional 6,596 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Enphase Energy during the fourth quarter valued at about $415,000. Slow Capital Inc. purchased a new stake in Enphase Energy during the fourth quarter valued at about $3,263,000. Sloy Dahl & Holst LLC lifted its holdings in Enphase Energy by 1.5% during the fourth quarter. Sloy Dahl & Holst LLC now owns 35,398 shares of the semiconductor company’s stock valued at $4,677,000 after purchasing an additional 527 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its holdings in Enphase Energy by 31.6% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 788 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 189 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 5.6 %

Shares of Enphase Energy stock opened at $107.17 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $228.36. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. The company’s 50 day moving average price is $119.28 and its 200-day moving average price is $111.97.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Equities research analysts forecast that Enphase Energy, Inc. will post 2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent research reports. Susquehanna reaffirmed a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley increased their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, TD Cowen increased their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.00.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

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.