Enovix Corporation $ENVX Shares Bought by Baird Financial Group Inc.

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. lifted its stake in Enovix Corporation (NASDAQ:ENVX - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 582,313 shares of the company's stock after purchasing 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.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENVX. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 increased its holdings in Enovix by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,519,960 shares of the company's stock valued at $16,522,000 after acquiring an additional 211,959 shares in the last quarter. Comerica Bank increased its holdings in Enovix by 309.2% during the 4th quarter. Comerica Bank now owns 49,480 shares of the company's stock valued at $538,000 after acquiring an additional 37,387 shares in the last quarter. Cetera Investment Advisers increased its holdings in Enovix by 17.0% during the 4th quarter. Cetera Investment Advisers now owns 134,093 shares of the company's stock valued at $1,458,000 after acquiring an additional 19,514 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in Enovix by 85.8% during the 4th quarter. Cresset Asset Management LLC now owns 24,958 shares of the company's stock valued at $271,000 after acquiring an additional 11,525 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ENVX. TD Cowen upgraded shares of Enovix to a "hold" rating and raised their target price for the company from $7.00 to $15.00 in a report on Monday, July 7th. Wall Street Zen downgraded shares of Enovix from a "hold" rating to a "sell" rating in a report on Saturday. Cowen restated a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. Craig Hallum restated a "buy" rating and set a $15.00 target price (up from $12.00) on shares of Enovix in a report on Tuesday, July 8th. Finally, B. Riley restated a "buy" rating and set a $17.00 target price (up from $12.00) on shares of Enovix in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Enovix Trading Up 1.9%

Enovix stock traded up $0.17 during trading on Friday, reaching $9.19. The company had a trading volume of 3,528,764 shares, compared to its average volume of 5,828,691. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The stock's 50 day moving average price is $11.90 and its two-hundred day moving average price is $9.16. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.94 and a beta of 2.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results 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 firm had revenue of $7.50 million for 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. As a group, equities analysts expect that Enovix Corporation will post -1.01 earnings per share for the current fiscal year.

Enovix declared that its board has approved a stock buyback plan on Wednesday, July 2nd that allows the company to repurchase $60.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.