Stevens Capital Management LP Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Stevens Capital Management LP bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,816 shares of the semiconductor company’s stock, valued at approximately $2,486,000. Enphase Energy comprises 0.6% of Stevens Capital Management LP’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also recently modified their holdings of the business. Baillie Gifford & Co. grew its position in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the period. Northern Trust Corp grew its holdings in shares of Enphase Energy by 7.1% in the third quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock worth $163,479,000 after acquiring an additional 90,438 shares during the period. Schroder Investment Management Group increased its position in Enphase Energy by 3.3% during the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after acquiring an additional 35,681 shares during the last quarter. Legal & General Group Plc lifted its holdings in Enphase Energy by 1.4% in the third quarter. Legal & General Group Plc now owns 1,087,689 shares of the semiconductor company’s stock valued at $130,686,000 after acquiring an additional 14,613 shares during the period. Finally, Nordea Investment Management AB boosted its position in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. In the last three months, insiders sold 34,285 shares of company stock valued at $4,054,428. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ENPH has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday. B. Riley upped their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday. TD Cowen lifted their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer upped their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average price target of $141.58.

Enphase Energy Trading Up 3.8 %

ENPH traded up $4.10 during trading on Friday, reaching $111.93. The company had a trading volume of 5,821,765 shares, compared to its average volume of 4,236,534. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $192.22. The stock has a market cap of $15.23 billion, a P/E ratio of 58.30, a PEG ratio of 3.16 and a beta of 1.47. The business has a 50 day simple moving average of $118.22 and a 200-day simple moving average of $111.90.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. On average, equities analysts anticipate that Enphase Energy, Inc. will post 1.95 EPS for the current fiscal year.

Enphase Energy 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.