Baird Financial Group Inc. Grows Stock Holdings in Enovix Corporation $ENVX

Key Points

• Baird Financial Group Inc. increased its stake in Enovix Corporation by 6.5% in the first quarter, owning approximately 582,313 shares valued at $4.27 million.
• Several institutional investors, including Driehaus Capital Management and Royal Bank of Canada, have also boosted their holdings in Enovix, highlighting significant interest in the company.
• Research analysts maintain a generally positive outlook on Enovix, with an average rating of "Moderate Buy" and a price target of $17.00, reflecting confidence in the company's future performance.

Baird Financial Group Inc. raised its holdings in Enovix Corporation (NASDAQ:ENVX - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 582,313 shares of the company's stock after buying an additional 35,649 shares during the period. Baird Financial Group Inc. owned approximately 0.30% of Enovix worth $4,274,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Enovix by 23.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 122,536 shares of the company's stock valued at $1,332,000 after purchasing an additional 23,195 shares during the period. Northern Trust Corp raised its holdings in shares of Enovix by 16.2% in the 4th quarter. Northern Trust Corp now owns 1,519,960 shares of the company's stock valued at $16,522,000 after purchasing an additional 211,959 shares in the last quarter. Comerica Bank lifted its position in shares of Enovix by 309.2% during the 4th quarter. Comerica Bank now owns 49,480 shares of the company's stock worth $538,000 after purchasing an additional 37,387 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Enovix by 17.0% during the 4th quarter. Cetera Investment Advisers now owns 134,093 shares of the company's stock worth $1,458,000 after purchasing an additional 19,514 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Enovix by 85.8% during the fourth quarter. Cresset Asset Management LLC now owns 24,958 shares of the company's stock worth $271,000 after purchasing an additional 11,525 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company's stock.

Enovix Stock Performance

Shares of NASDAQ ENVX traded up $0.08 during trading hours on Wednesday, reaching $9.15. The stock had a trading volume of 6,243,729 shares, compared to its average volume of 5,730,111. The firm has a 50-day moving average of $11.82 and a 200-day moving average of $9.14. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -10.89 and a beta of 2.08. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82. Enovix Corporation has a fifty-two week low of $5.27 and a fifty-two week high of $16.49.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. The company had revenue of $7.50 million during the quarter, compared to analysts' expectations of $5.48 million. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The firm's revenue for the quarter was up 98.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. Equities research analysts predict that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix announced that its Board of Directors has authorized a share buyback program on Wednesday, July 2nd that allows the company to buyback $60.00 million in shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

ENVX has been the topic of a number of analyst reports. Wall Street Zen cut Enovix from a "hold" rating to a "sell" rating in a research note on Saturday. Canaccord Genuity Group increased their price objective on Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $12.00 target price (up previously from $9.00) on shares of Enovix in a research report on Thursday, July 24th. Benchmark boosted their target price on Enovix from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, B. Riley reiterated a "buy" rating and issued a $17.00 price target (up from $12.00) on shares of Enovix in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.00.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.