Prakash Investment Advisors LLC Makes New $508,000 Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Prakash Investment Advisors LLC acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,400 shares of the semiconductor company’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENPH. Creative Planning raised its holdings in shares of Enphase Energy by 49.7% in the third quarter. Creative Planning now owns 16,204 shares of the semiconductor company’s stock valued at $1,831,000 after purchasing an additional 5,379 shares during the last quarter. Swedbank AB raised its holdings in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Enphase Energy by 109.1% in the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 228 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Enphase Energy in the third quarter valued at approximately $243,000. Finally, Signaturefd LLC raised its holdings in shares of Enphase Energy by 29.7% in the third quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 284 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENPH has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. Oppenheimer boosted their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Morgan Stanley lowered their target price on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $82.00 in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Down 0.3 %

ENPH stock opened at $66.15 on Friday. The company has a market cap of $8.76 billion, a PE ratio of 89.39 and a beta of 1.68. The business has a 50-day simple moving average of $66.89 and a 200 day simple moving average of $85.48. Enphase Energy, Inc. has a 52 week low of $58.33 and a 52 week high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS 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.