5 Best-Performing S&P 500 Stocks in the Last 10 Years

2. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 53

10-Year Share Price Returns as of September 13: 6,130%

Enphase Energy, Inc. (NASDAQ:ENPH) is a California-based manufacturer of home energy solutions for the solar photovoltaic industry in the United States and internationally. The stock has gained 6,130% in the last 10 years as of September 13, making it one of the best S&P 500 performers. 

Guggenheim analyst Joseph Osha on September 9 downgraded Enphase Energy, Inc. (NASDAQ:ENPH) to Neutral from Buy and retracted his prior $293 price target on the stock after the 55% share price appreciation during the last three months. The analyst said that Enphase Energy, Inc. (NASDAQ:ENPH) “is one of the best-managed and quickly growing companies that we cover”. He noted that his revised stance does not represent a negative assessment of the quality of the business. He contended that Enphase Energy, Inc. (NASDAQ:ENPH) seems fairly valued but he views it as “a company that is less likely to deliver upside relative to our expectations, especially at the current gross margin level”.

According to Insider Monkey’s data, 53 hedge funds were long Enphase Energy, Inc. (NASDAQ:ENPH) at the end of Q2 2022, compared to 57 funds in the last quarter. Philippe Laffont’s Coatue Management is the largest stakeholder of the company, with 1.36 million shares worth about $267 million. 

Here is what the ClearBridge Investments Sustainability Leaders Strategy had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q1 2022 investor letter:

“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”