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

United Asset Strategies Inc. grew its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 46.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,205 shares of the semiconductor company’s stock after acquiring an additional 1,977 shares during the period. United Asset Strategies Inc.’s holdings in Enphase Energy were worth $820,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ENPH. KB Financial Partners LLC bought a new stake in Enphase Energy during the 1st quarter valued at $28,000. First Capital Advisors Group LLC. purchased a new position in Enphase Energy during the 2nd quarter valued at about $28,000. Resurgent Financial Advisors LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its position in shares of Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 102 shares during the period. Finally, CVA Family Office LLC bought a new stake in Enphase Energy during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

ENPH has been the subject of several analyst reports. Barclays increased their price target on shares of Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Royal Bank of Canada began coverage on Enphase Energy in a research note on Wednesday, February 14th. They set an “outperform” rating and a $140.00 target price on the stock. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Canaccord Genuity Group initiated coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target for the company. Finally, Roth Mkm cut their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $151.03.

Enphase Energy Trading Down 1.8 %

ENPH stock opened at $110.47 on Wednesday. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy, Inc. has a 52-week low of $73.49 and a 52-week high of $231.42. The company’s 50-day simple moving average is $120.44 and its 200-day simple moving average is $112.19. The firm has a market cap of $15.02 billion, a P/E ratio of 36.10, a PEG ratio of 3.12 and a beta of 1.47.

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

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.