Everspin Technologies Inc (MRAM) Expected to Post Quarterly Sales of $10.10 Million

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.

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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.

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