Ingalls & Snyder LLC Buys 320 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Ingalls & Snyder LLC raised its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,869 shares of the semiconductor company’s stock after purchasing an additional 320 shares during the period. Ingalls & Snyder LLC’s holdings in Enphase Energy were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in Enphase Energy by 57.9% in the 2nd 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 last quarter. Electron Capital Partners LLC lifted its holdings in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP bought a new position in Enphase Energy during the second quarter worth about $51,582,000. Mizuho Securities USA LLC increased its stake in shares of 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 purchasing an additional 438,424 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in shares of Enphase Energy in the third quarter valued at approximately $48,442,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $73.26 on Wednesday. The company has a 50 day moving average of $85.62 and a 200 day moving average of $104.31. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy, Inc. has a twelve month low of $58.33 and a twelve month high of $141.63. The firm has a market cap of $9.90 billion, a P/E ratio of 166.50, a PEG ratio of 22.30 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. As a group, research analysts expect that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and cut their target price for the stock from $93.00 to $61.00 in a research note on Thursday, November 7th. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research report on Wednesday, October 23rd. Truist Financial cut their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a 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 issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and an average target price of $101.13.

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.