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

Prakash Investment Advisors LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,400 shares of the semiconductor company’s stock, valued at approximately $508,000.

Several other institutional investors have also recently bought and sold shares of the business. ING Groep NV raised its stake in Enphase Energy by 92.9% during the fourth quarter. ING Groep NV now owns 17,256 shares of the semiconductor company’s stock worth $1,185,000 after acquiring an additional 8,311 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Enphase Energy by 318.1% during the fourth quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares in the last quarter. CIBC Asset Management Inc raised its stake in Enphase Energy by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 21,267 shares of the semiconductor company’s stock worth $1,461,000 after acquiring an additional 1,109 shares in the last quarter. Baillie Gifford & Co. raised its stake in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares in the last quarter. Finally, DDD Partners LLC raised its stake in Enphase Energy by 29.5% during the fourth quarter. DDD Partners LLC now owns 2,924 shares of the semiconductor company’s stock worth $201,000 after acquiring an additional 666 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $66.15 on Friday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 89.39 and a beta of 1.68. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The stock’s 50 day moving average price is $66.89 and its two-hundred day moving average price is $85.48. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ENPH shares. JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Canaccord Genuity Group raised Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 price objective for the company in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on Enphase Energy from $83.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler lowered their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.42.

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.