Equities research analysts expect Everspin Technologies Inc (NASDAQ:MRAM) to report sales of $10.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Everspin Technologies’ earnings. Everspin Technologies reported sales of $7.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 42.3%. The business is expected to issue its next quarterly earnings results on Friday, March 9th.
On average, analysts expect that Everspin Technologies will report full-year sales of $10.10 million for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report sales of $61.75 million per share, with estimates ranging from $49.20 million to $74.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Everspin Technologies.
Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. Everspin Technologies had a negative net margin of 66.90% and a negative return on equity of 108.26%. The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year.
A number of research analysts recently weighed in on MRAM shares. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. reduced their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 15th. Needham & Company LLC reduced their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 12th. Finally, Canaccord Genuity reduced their price objective on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.75.
Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN bought a new position in Everspin Technologies in the 2nd quarter valued at $322,000. Bamco Inc. NY boosted its holdings in Everspin Technologies by 20.3% in the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock valued at $4,167,000 after purchasing an additional 41,100 shares during the period. Stifel Financial Corp bought a new position in Everspin Technologies in the 2nd quarter valued at $525,000. B. Riley Financial Inc. boosted its holdings in Everspin Technologies by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after purchasing an additional 23,408 shares during the period. Finally, EAM Investors LLC boosted its holdings in Everspin Technologies by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after purchasing an additional 87,167 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.
Everspin Technologies (NASDAQ MRAM) opened at $8.35 on Friday. Everspin Technologies has a one year low of $6.69 and a one year high of $25.39. The company has a quick ratio of 2.27, a current ratio of 3.04 and a debt-to-equity ratio of 0.74.
WARNING: “Everspin Technologies Inc (MRAM) Expected to Post Quarterly Sales of $10.10 Million” was posted by Stock Observer and is the property of of Stock Observer. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.thestockobserver.com/2018/01/14/everspin-technologies-inc-mram-expected-to-post-quarterly-sales-of-10-10-million.html.
Everspin Technologies Company Profile
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.