United Asset Strategies Inc. Buys 1,977 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

United Asset Strategies Inc. raised its stake in Enphase Energy, Inc. (NASDAQ:ENPH) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,205 shares of the semiconductor company’s stock after acquiring an additional 1,977 shares during the quarter. United Asset Strategies Inc.’s holdings in Enphase Energy were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Thrivent Financial for Lutherans lifted its stake in shares of Enphase Energy by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock valued at $1,603,000 after acquiring an additional 48 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Enphase Energy by 1.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,222 shares of the semiconductor company’s stock worth $852,000 after purchasing an additional 72 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Enphase Energy by 7.8% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,100 shares of the semiconductor company’s stock valued at $251,000 after purchasing an additional 80 shares during the period. KB Financial Partners LLC boosted its stake in shares of Enphase Energy by 39.8% in the 2nd quarter. KB Financial Partners LLC now owns 309 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 88 shares during the last quarter. Finally, M Holdings Securities Inc. grew its position in shares of Enphase Energy by 2.0% during the 1st quarter. M Holdings Securities Inc. now owns 5,118 shares of the semiconductor company’s stock worth $1,071,000 after buying an additional 100 shares during the period. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Down 1.8 %

NASDAQ:ENPH opened at $110.47 on Wednesday. Enphase Energy, Inc. has a twelve month low of $73.49 and a twelve month high of $231.42. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.12 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The stock’s 50 day moving average price is $120.44 and its two-hundred day moving average price is $112.19.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Equities research analysts expect that Enphase Energy, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $145.00 in a report on Tuesday, January 23rd. Piper Sandler reduced their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, January 12th. Oppenheimer raised Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price target for the company in a research note on Wednesday, February 7th. Finally, BMO Capital Markets lifted their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $151.03.

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.