Amundi Has $1.67 Million Stock Holdings in Enovix Corporation $ENVX

Amundi cut its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,947 shares of the company’s stock after selling 7,422 shares during the quarter. Amundi owned 0.12% of Enovix worth $1,673,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Baird Financial Group Inc. boosted its stake in shares of Enovix by 6.5% in the first quarter. Baird Financial Group Inc. now owns 582,313 shares of the company’s stock valued at $4,274,000 after buying an additional 35,649 shares during the period. Vident Advisory LLC bought a new stake in shares of Enovix in the first quarter valued at approximately $188,000. Driehaus Capital Management LLC boosted its stake in shares of Enovix by 1.8% in the first quarter. Driehaus Capital Management LLC now owns 2,323,612 shares of the company’s stock valued at $17,055,000 after buying an additional 41,559 shares during the period. Avenir Corp boosted its stake in shares of Enovix by 19.6% in the first quarter. Avenir Corp now owns 45,750 shares of the company’s stock valued at $336,000 after buying an additional 7,510 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of Enovix in the first quarter valued at approximately $104,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Stock Performance

NASDAQ ENVX opened at $8.14 on Friday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.69 and a beta of 2.08. Enovix Corporation has a twelve month low of $5.27 and a twelve month high of $16.49. The stock has a fifty day simple moving average of $11.69 and a 200 day simple moving average of $9.12. The company has a quick ratio of 4.11, a current ratio of 4.37 and a debt-to-equity ratio of 0.82.

Enovix (NASDAQ:ENVX) last posted 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 business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.Enovix’s quarterly revenue was up 98.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. Sell-side analysts expect that Enovix Corporation will post -1.01 EPS 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 purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Wall Street Zen cut Enovix from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Benchmark upped 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. B. Riley restated a “buy” rating and set a $17.00 target price (up from $12.00) on shares of Enovix in a research note on Thursday, July 10th. Finally, TD Cowen upgraded Enovix to a “hold” rating and upped their target price for the stock from $7.00 to $15.00 in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.00.

About Enovix

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.