Prospera Private Wealth LLC Takes $62,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Prospera Private Wealth LLC purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 545 shares of the semiconductor company’s stock, valued at approximately $62,000.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Enphase Energy during the 3rd quarter worth approximately $1,273,000. Mizuho Securities USA LLC lifted its holdings in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after acquiring an additional 438,424 shares during the last quarter. Swedbank AB lifted its holdings in shares of Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Enphase Energy by 15.9% during the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares during the period. Finally, KBC Group NV boosted its stake in Enphase Energy by 10.0% during the 3rd quarter. KBC Group NV now owns 127,583 shares of the semiconductor company’s stock valued at $14,420,000 after purchasing an additional 11,578 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Up 0.3 %

Shares of ENPH opened at $63.59 on Friday. The stock’s 50-day moving average price is $91.80 and its 200 day moving average price is $106.49. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 144.52, a P/E/G ratio of 18.81 and a beta of 1.77. Enphase Energy, Inc. has a 12-month low of $58.33 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the company earned $0.84 EPS. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, research analysts predict that Enphase Energy, Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ENPH shares. Citigroup decreased their price target on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Piper Sandler decreased their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Friday, November 8th. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.09.

Enphase Energy 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.