Mandatum Life Insurance Co Ltd Buys 14,098 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Mandatum Life Insurance Co Ltd boosted its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 65.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 35,615 shares of the semiconductor company’s stock after purchasing an additional 14,098 shares during the quarter. Enphase Energy makes up about 0.7% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 29th biggest position. Mandatum Life Insurance Co Ltd’s holdings in Enphase Energy were worth $2,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its holdings in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. boosted its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy during the third quarter worth $34,000. Stone House Investment Management LLC purchased a new stake in shares of Enphase Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $63.69 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock’s fifty day moving average is $69.22 and its two-hundred day moving average is $92.90. Enphase Energy, Inc. has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The firm has a market capitalization of $8.60 billion, a P/E ratio of 144.75, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. On average, research analysts anticipate that Enphase Energy, Inc. will post 0.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on ENPH shares. Craig Hallum decreased their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on shares of Enphase Energy from $145.00 to $121.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets cut their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $93.00 to $61.00 in a research note on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.59.

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.