Mizuho Markets Cayman LP Increases Stake in Enphase Energy

Mizuho Markets Cayman LP has significantly raised its investment in Enphase Energy, Inc. (NASDAQ:ENPH) by 118.6% during the fourth quarter, as reported in its recent Form 13F filing with the SEC. The investment fund now holds a total of 11,153 shares of this semiconductor company after acquiring an additional 6,050 shares during that period. Enphase Energy represents 1.7% of Mizuho Markets Cayman LP's entire portfolio, making it the 11th largest holding within the fund. The market value of Mizuho's holdings in Enphase Energy was approximately $766,000 at the conclusion of the latest reporting period.

Several other institutional investors have also made adjustments to their positions in Enphase Energy recently. For instance, Avior Wealth Management LLC increased its stake by a staggering 6,975.0% in the third quarter. This move resulted in Avior owning 283 shares valued at about $32,000 after acquiring an additional 279 shares. Moreover, Stone House Investment Management LLC bought a new position in Enphase valued at around $34,000 during the same period. Furthermore, Quarry LP initiated a position worth approximately $37,000, while Brooklyn Investment Group acquired shares valued at $55,000. Additionally, Venturi Wealth Management LLC expanded its holding in Enphase by 318.1% in the fourth quarter, now owning 669 shares valued at $46,000 after adding 509 shares. At present, institutional investors possess 72.12% of Enphase Energy's stock.

Recent Analyst Ratings and Opinions

A variety of analysts have recently updated their ratings regarding Enphase Energy. Guggenheim upgraded the stock from "sell" to "neutral" and set a target price of $62.00 in a report dated January 31st. On the contrary, BMO Capital Markets reduced their price target from $69.00 to $66.00, maintaining a "market perform" stance in their research published on February 5th. Oppenheimer, however, increased its target price from $101.00 to $103.00, giving Enphase shares an "outperform" rating in their report on the same date. The Goldman Sachs Group also revised their target price down from $121.00 to $105.00 while retaining a "buy" rating. Lastly, Truist Financial reaffirmed a "hold" rating with a revised target price of $65.00, reduced from $100.00. Overall, three analysts rate the stock as a sell, seventeen have assigned a hold rating, and fourteen are recommending it as a buy. According to MarketBeat.com, the average rating for Enphase Energy shares is "Hold" with an average target price of $90.42.

Current Stock Status

As of Friday, Enphase Energy shares opened at $61.54. The company exhibits a quick ratio of 3.28, a current ratio of 3.53, and a debt-to-equity ratio of 1.44. Over the past year, shares have fluctuated with a low of $51.63 and a high of $141.63. Enphase Energy boasts a market capitalization of $8.15 billion, a price-to-earnings ratio of 83.16, and a beta value of 2.12. Its fifty-day moving average is $62.60 and the two-hundred-day moving average stands at $77.31. Enphase recently published its quarterly earnings results on February 4th, reporting an earning per share (EPS) of $0.57 which exceeded analysts' expectations of $0.43 by $0.14. Furthermore, the company reported a net margin of 7.72% and a return on equity of 15.62%. Analysts forecast that Enphase Energy will report an EPS of 2.08 for the current fiscal year.

Insider Activity

In terms of insider trading at Enphase Energy, CFO Mandy Yang recently sold 1,319 shares on March 10th, receiving an average price of $63.32 for a total consideration of $83,519.08. Post-transaction, the CFO retains ownership of 78,524 shares valued at nearly $4.97 million, reflecting a decrease of 1.65% in their stake. The details of this transaction were disclosed in filings with the SEC. Additionally, Director Thurman J. Rodgers sold an impressive 100,000 shares on March 7th at an average price of $61.26, amounting to a total transaction of $6,126,000. Following this sale, Rodgers owns 1,881,760 shares, worth around $115.28 million, marking a reduction of 5.05% in their holding. Presently, 3.40% of Enphase Energy's stock is held by corporate insiders.

Company Overview

Enphase Energy, Inc., along with its subsidiaries, specializes in designing, developing, manufacturing, and selling home energy solutions within the solar photovoltaic industry both in the United States and worldwide. The company is recognized for its semiconductor-based microinverter technology, which converts energy at the module level for solar installations while integrating proprietary networking and software technologies to facilitate energy monitoring and control.

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