Mitsubishi UFJ Asset Management Co. Ltd. Has $1.08 Million Stock Holdings in Enphase Energy, Inc. $ENPH

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 118.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,098 shares of the semiconductor company’s stock after buying an additional 17,403 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Enphase Energy were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENPH. Woodline Partners LP boosted its stake in Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 3,077 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Enphase Energy in the first quarter worth $121,000. Arrowstreet Capital Limited Partnership bought a new position in Enphase Energy during the second quarter worth $1,299,000. Guggenheim Capital LLC increased its position in Enphase Energy by 14.1% during the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock worth $1,049,000 after acquiring an additional 3,273 shares during the period. Finally, California Public Employees Retirement System raised its stake in Enphase Energy by 11.9% during the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after purchasing an additional 25,450 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Trading Down 0.5%

Shares of ENPH stock opened at $37.48 on Wednesday. The firm has a fifty day moving average of $37.62 and a 200-day moving average of $36.25. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 37.11 and a beta of 1.26. Enphase Energy, Inc. has a 52-week low of $25.77 and a 52-week high of $52.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.28 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue was down 20.6% on a year-over-year basis. On average, equities research analysts forecast that Enphase Energy, Inc. will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ENPH has been the topic of several research analyst reports. BMO Capital Markets upgraded shares of Enphase Energy from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $31.00 to $41.00 in a research report on Wednesday, February 4th. Glj Research set a $21.70 target price on shares of Enphase Energy in a research note on Thursday, February 5th. Wells Fargo & Company decreased their target price on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. TD Cowen lowered their price target on Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Finally, Oppenheimer cut their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $40.68.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 137,250 shares of Enphase Energy stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the sale, the director directly owned 1,597,641 shares of the company’s stock, valued at approximately $69,673,124.01. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.