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

Prakash Investment Advisors LLC purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,400 shares of the semiconductor company's stock, valued at approximately $508,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ING Groep NV boosted 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 buying an additional 8,311 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company's stock valued at $46,000 after acquiring an additional 509 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Enphase Energy by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 21,267 shares of the semiconductor company's stock valued at $1,461,000 after purchasing an additional 1,109 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the period. Finally, DDD Partners LLC increased its position 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 purchasing an additional 666 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Northland Securities decreased their target price on shares of Enphase Energy from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, November 19th. OTR Global upgraded Enphase Energy from a "negative" rating to a "mixed" rating in a report on Friday, December 20th. Citigroup increased their price objective on Enphase Energy from $71.00 to $72.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 8th. Canaccord Genuity Group upgraded Enphase Energy from a "hold" rating to a "buy" rating and lifted their target price for the company from $76.00 to $82.00 in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on Enphase Energy from $70.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $90.42.

Enphase Energy Stock Down 0.2 %

Shares of Enphase Energy stock traded down $0.17 on Tuesday, reaching $65.92. 2,398,233 shares of the company were exchanged, compared to its average volume of 3,801,748. The stock's 50 day moving average price is $66.60 and its 200-day moving average price is $84.67. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. The company has a market cap of $8.73 billion, a P/E ratio of 89.38 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly 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%. As a group, equities analysts forecast that Enphase Energy, Inc. will post 2.08 EPS for the current 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.