Proficio Capital Partners LLC Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Proficio Capital Partners LLC purchased a new stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,252 shares of the semiconductor company's stock, valued at approximately $1,528,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its holdings in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 279 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Enphase Energy in the third quarter valued at approximately $34,000. Quarry LP acquired a new position in Enphase Energy in the third quarter valued at approximately $37,000. Brooklyn Investment Group acquired a new position in Enphase Energy in the third quarter valued at approximately $55,000. Finally, Prospera Private Wealth LLC purchased a new stake in Enphase Energy in the third quarter valued at approximately $62,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Price Performance

Enphase Energy stock traded up $2.91 during trading hours on Friday, hitting $61.63. The stock had a trading volume of 6,451,559 shares, compared to its average volume of 4,397,771. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12. Enphase Energy, Inc. has a 1-year low of $51.63 and a 1-year high of $141.63. The stock's fifty day moving average is $64.45 and its two-hundred day moving average is $81.20.

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Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. As a group, analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ENPH. Susquehanna reduced their price objective on Enphase Energy from $79.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Northland Securities reduced their price objective on Enphase Energy from $110.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Wells Fargo & Company reduced 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. Guggenheim upgraded 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. Finally, Oppenheimer boosted their price objective on Enphase Energy from $101.00 to $103.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $90.42.

Insider Activity at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company's stock.

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.