Oppenheimer remain buyers of Enovix after CEO announcement

After Enovix (ENVX) announced Dr. Raj Talluri from Micron (MU) will join as president and CEO, Oppenheimer analyst Colin Rusch contended with the new CEO news coming shortly after the appointment of Ajay Marathe as COO that Enovix "is clearly staffing up to build a world-class manufacturing operation." Rusch, who expects further details on the company’s updated ramp plans to come over the next several months, would remain a buyer, "especially at current levels," he tells investors. Rusch keeps an Outperform rating on Enovix shares.