Enphase Energy, Inc. (NASDAQ:ENPH) Position Increased by Profund Advisors LLC

Profund Advisors LLC raised its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,331 shares of the semiconductor company’s stock after purchasing an additional 1,455 shares during the quarter. Profund Advisors LLC’s holdings in Enphase Energy were worth $1,230,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Transatlantique Private Wealth LLC acquired a new position in Enphase Energy in the second quarter worth approximately $345,000. Thrivent Financial for Lutherans grew its position in Enphase Energy by 17.6% in the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after acquiring an additional 123,856 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Enphase Energy by 3.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 505,255 shares of the semiconductor company’s stock worth $50,379,000 after purchasing an additional 16,515 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Enphase Energy by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,484 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 203 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Susquehanna increased their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. Guggenheim boosted their price objective on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler raised their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.89.

Enphase Energy Price Performance

Shares of ENPH stock opened at $117.00 on Tuesday. 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 stock’s fifty day simple moving average is $113.07 and its 200 day simple moving average is $114.39. Enphase Energy, Inc. has a one year low of $73.49 and a one year high of $141.63. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 60.94, a P/E/G ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. On average, analysts expect that Enphase Energy, Inc. will post 1.19 earnings per share for the current fiscal year.

About Enphase Energy

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.