Montrusco Bolton Investments Inc. Trims Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Montrusco Bolton Investments Inc. lessened its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 92.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,430 shares of the semiconductor company’s stock after selling 815,128 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Enphase Energy were worth $4,356,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. lifted its stake in Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after purchasing an additional 58,040 shares in the last quarter. Swedbank AB lifted its stake in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Enphase Energy by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Enphase Energy by 6.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after acquiring an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 2.7 %

Enphase Energy stock opened at $62.24 on Wednesday. The stock has a 50 day moving average of $69.43 and a two-hundred day moving average of $90.79. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 141.45, a PEG ratio of 7.79 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Northland Securities decreased their target price on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Craig Hallum lowered their target price 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. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.43.

About Enphase Energy

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.