Ingalls & Snyder LLC Acquires New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Ingalls & Snyder LLC acquired a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,549 shares of the semiconductor company's stock, valued at approximately $753,000.

A number of other hedge funds have also recently bought and sold shares of the company. Mirova US LLC grew its position in shares of Enphase Energy by 2.7% during the 2nd quarter. Mirova US LLC now owns 579,241 shares of the semiconductor company's stock worth $57,756,000 after buying an additional 15,444 shares during the period. Signaturefd LLC raised its position in shares of Enphase Energy by 18.3% during the 2nd quarter. Signaturefd LLC now owns 956 shares of the semiconductor company's stock valued at $95,000 after acquiring an additional 148 shares during the last quarter. KCM Investment Advisors LLC boosted its position in shares of Enphase Energy by 11.1% in the 2nd quarter. KCM Investment Advisors LLC now owns 9,982 shares of the semiconductor company's stock worth $995,000 after purchasing an additional 995 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Enphase Energy by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company's stock valued at $557,000 after purchasing an additional 106 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Enphase Energy by 75.0% in the second quarter. Principal Financial Group Inc. now owns 337,506 shares of the semiconductor company's stock valued at $33,653,000 after buying an additional 144,628 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ENPH shares. Barclays lowered their price target on Enphase Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a research note on Thursday, July 25th. Piper Sandler increased their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Roth Mkm reissued a "buy" rating and issued a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Enphase Energy from $124.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley increased their price target on Enphase Energy from $98.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $128.76.

Insider Activity

In related news, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.40% of the company's stock.

Enphase Energy Stock Performance

NASDAQ ENPH traded down $0.26 during trading on Friday, reaching $121.04. 1,999,684 shares of the company's stock were exchanged, compared to its average volume of 3,943,458. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The business has a 50 day moving average price of $110.33 and a 200-day moving average price of $116.02. The stock has a market capitalization of $16.47 billion, a P/E ratio of 63.04, a PEG ratio of 5.59 and a beta of 1.71. Enphase Energy, Inc. has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm's revenue was down 57.3% compared to the same quarter last year. Sell-side analysts forecast that Enphase Energy, Inc. will post 1.24 earnings per share 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.