Clearbridge Investments LLC Boosts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Clearbridge Investments LLC boosted its position in Enphase Energy, Inc. (NASDAQ:ENPH) by 58.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,529 shares of the semiconductor company’s stock after buying an additional 61,178 shares during the quarter. Clearbridge Investments LLC’s holdings in Enphase Energy were worth $16,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ENPH. Point72 Asset Management L.P. purchased a new stake in Enphase Energy in the 2nd quarter worth about $2,780,000. Kimelman & Baird LLC bought a new position in Enphase Energy during the second quarter worth about $2,435,000. B. Riley Wealth Advisors Inc. boosted its position in Enphase Energy by 16.3% during the second quarter. B. Riley Wealth Advisors Inc. now owns 4,620 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 646 shares during the period. Doheny Asset Management CA purchased a new position in shares of Enphase Energy in the second quarter worth about $8,095,000. Finally, Duff & Phelps Investment Management Co. raised its position in shares of Enphase Energy by 12.2% in the second quarter. Duff & Phelps Investment Management Co. now owns 15,949 shares of the semiconductor company’s stock valued at $1,590,000 after purchasing an additional 1,737 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ENPH shares. Susquehanna raised 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. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. BMO Capital Markets decreased their price objective on Enphase Energy from $115.00 to $114.00 and set a “market perform” rating on the stock in a research note on Wednesday. William Blair initiated coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Piper Sandler boosted their price objective 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 investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.17.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $105.95 on Friday. The business has a 50 day moving average of $113.09 and a 200 day moving average of $114.03. Enphase Energy, Inc. has a 52 week low of $73.49 and a 52 week high of $141.63. The company has a market cap of $14.42 billion, a PE ratio of 55.18, a P/E/G ratio of 6.19 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $309.73 million. During the same quarter last year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. As a group, equities research analysts forecast that Enphase Energy, Inc. will post 1.19 earnings per share for the current 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.