State of Michigan Retirement System Sells 200 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

State of Michigan Retirement System decreased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,215 shares of the semiconductor company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Enphase Energy were worth $4,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Donoghue Forlines LLC grew its position in shares of Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after buying an additional 90 shares during the period. Fermata Advisors LLC grew its position in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after buying an additional 100 shares during the period. Fulton Breakefield Broenniman LLC grew its position in shares of Enphase Energy by 0.9% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after buying an additional 107 shares during the period. VitalStone Financial LLC grew its position in shares of Enphase Energy by 14.3% during the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after buying an additional 111 shares during the period. Finally, Abbrea Capital LLC grew its position in shares of Enphase Energy by 4.3% during the 4th quarter. Abbrea Capital LLC now owns 4,470 shares of the semiconductor company’s stock worth $591,000 after buying an additional 185 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Buying and Selling

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the acquisition, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 349,526 shares of company stock worth $43,721,225. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ENPH shares. Canaccord Genuity Group raised their price objective on shares of Enphase Energy from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. DZ Bank started coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price target for the company. BMO Capital Markets reduced their price target on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Oppenheimer lifted their price target on shares of Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Susquehanna reissued a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.45.

Enphase Energy Trading Down 1.5 %

Shares of Enphase Energy stock opened at $95.77 on Wednesday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $192.22. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 4.10 and a beta of 1.72. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $116.43 and its 200-day moving average price is $117.73.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). The company had revenue of $263.34 million during the quarter, compared to the consensus estimate of $280.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, equities analysts expect that Enphase Energy, Inc. will post 1.43 earnings per share for the current fiscal year.

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.