Neuberger Berman Group LLC Sells 59,393 Shares of Enovix Corporation $ENVX

Key Points

• Neuberger Berman Group LLC reduced its stake in Enovix Corporation by 29.1%, selling 59,393 shares and now holds 144,487 shares valued at approximately $1,061,000.
• Enovix reported a quarterly revenue of $7.50 million, surpassing analyst estimates, and has announced a $60 million share buyback plan, signaling confidence in its stock value.
• Despite a negative earnings per share of ($0.13), Enovix's revenue saw a 98.2% year-over-year growth, reflecting its expanding business in lithium-ion battery manufacturing.

Neuberger Berman Group LLC cut its stake in Enovix Corporation (NASDAQ:ENVX - Free Report) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,487 shares of the company's stock after selling 59,393 shares during the period. Neuberger Berman Group LLC owned 0.08% of Enovix worth $1,061,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ENVX. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enovix by 6.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company's stock worth $233,000 after purchasing an additional 1,336 shares in the last quarter. DDD Partners LLC lifted its holdings in shares of Enovix by 5.9% in the 1st quarter. DDD Partners LLC now owns 31,461 shares of the company's stock worth $231,000 after purchasing an additional 1,764 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Enovix by 6.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 30,984 shares of the company's stock worth $227,000 after purchasing an additional 1,949 shares in the last quarter. Sava Infond d.o.o. lifted its holdings in shares of Enovix by 50.0% in the 1st quarter. Sava Infond d.o.o. now owns 6,000 shares of the company's stock worth $44,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Enovix by 5.4% in the 1st quarter. Arizona State Retirement System now owns 45,810 shares of the company's stock worth $336,000 after purchasing an additional 2,346 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

Enovix Stock Performance

Shares of Enovix stock traded up $0.0950 during trading hours on Thursday, hitting $10.1850. 1,103,764 shares of the company's stock traded hands, compared to its average volume of 6,474,894. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -12.12 and a beta of 2.11. The company has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $9.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.37 and a quick ratio of 4.11.

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

Enovix declared that its board has authorized a stock repurchase program on Wednesday, July 2nd that permits the company to buyback $60.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ENVX shares. Canaccord Genuity Group increased their price target on Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Craig Hallum restated a "buy" rating and set a $15.00 price objective (up from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. Benchmark raised their price objective on Enovix from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Enovix from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $12.00 price objective (up from $9.00) on shares of Enovix in a research note on Thursday, July 24th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.90.

Enovix Company 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.