Meiji Yasuda Asset Management Co Ltd. Has $1 Million Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Meiji Yasuda Asset Management Co Ltd. lowered its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating) by 16.9% during the third quarter, Holdings Channel reports. The institutional investor owned 3,607 shares of the semiconductor company’s stock after selling 735 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Enphase Energy were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Panagora Asset Management Inc. lifted its holdings in shares of Enphase Energy by 42.5% during the first quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock valued at $813,000 after acquiring an additional 1,201 shares during the period. Raymond James Trust N.A. bought a new position in shares of Enphase Energy during the first quarter valued at $249,000. Cibc World Market Inc. lifted its holdings in shares of Enphase Energy by 219.1% during the first quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after acquiring an additional 3,653 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Enphase Energy by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after acquiring an additional 6,401 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of Enphase Energy by 8.7% during the first quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock valued at $457,000 after acquiring an additional 182 shares during the period. 73.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ENPH shares. Piper Sandler reissued a “neutral” rating and set a $255.00 price objective on shares of Enphase Energy in a report on Wednesday, February 8th. Susquehanna Bancshares cut Enphase Energy to a “neutral” rating and set a $365.00 price target for the company. in a report on Thursday, December 15th. Northland Securities raised Enphase Energy from a “market perform” rating to an “outperform” rating and set a $365.00 price target for the company in a report on Monday, December 19th. Susquehanna cut their price target on Enphase Energy from $365.00 to $275.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Finally, Scotiabank began coverage on Enphase Energy in a report on Thursday, March 2nd. They issued a “sector outperform” rating and a $300.00 price target for the company. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $306.20.

Enphase Energy Price Performance

Enphase Energy stock opened at $213.01 on Wednesday. The company has a current ratio of 3.55, a quick ratio of 3.31 and a debt-to-equity ratio of 1.45. The business has a 50-day moving average of $221.29 and a 200-day moving average of $267.24. Enphase Energy, Inc. has a 1 year low of $128.67 and a 1 year high of $339.92. The firm has a market capitalization of $29.08 billion, a P/E ratio of 76.36, a PEG ratio of 1.18 and a beta of 1.49.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $214.62, for a total value of $965,790.00. Following the completion of the transaction, the director now directly owns 1,600 shares in the company, valued at approximately $343,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard Mora sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $214.62, for a total value of $965,790.00. Following the completion of the transaction, the director now directly owns 1,600 shares in the company, valued at approximately $343,392. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Ranhoff sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $203.25, for a total value of $1,524,375.00. Following the completion of the transaction, the executive vice president now owns 97,102 shares of the company’s stock, valued at $19,735,981.50. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

Enphase Energy Profile

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Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm’s products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.