MQS Management LLC Takes $290,000 Position in Enphase Energy, Inc. (NASDAQ:ENPH)

MQS Management LLC purchased a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,908 shares of the semiconductor company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Vanguard Group Inc. raised its position in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB purchased a new position in Enphase Energy during the first quarter worth about $424,130,000. Northern Trust Corp lifted its position in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after purchasing an additional 3,940 shares during the period. Finally, Norges Bank purchased a new stake in Enphase Energy in the 4th quarter valued at approximately $149,425,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Down 2.1 %

Shares of ENPH stock opened at $114.90 on Friday. The firm’s 50-day simple moving average is $112.99 and its 200-day simple moving average is $114.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63. The firm has a market cap of $15.63 billion, a P/E ratio of 59.84, a PEG ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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 company had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, equities analysts forecast that Enphase Energy, Inc. will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENPH. Piper Sandler raised their price target on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Canaccord Genuity Group decreased their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday, June 10th. Susquehanna boosted their price objective on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a report on Monday, July 15th. Finally, BMO Capital Markets increased their target price on shares of Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $128.89.

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.