Everspin Technologies Inc (NASDAQ:MRAM) has been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price target of $14.75 for the company and are forecasting that the company will post ($0.43) earnings per share for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 208 out of 265 based on the ratings given to its competitors.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Everspin Technologies in a research report on Friday. Finally, Stifel Nicolaus decreased their price target on Everspin Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday.
In other Everspin Technologies news, insider Kevin Conley bought 14,285 shares of Everspin Technologies stock in a transaction on Monday, February 12th. The stock was bought at an average price of $7.00 per share, with a total value of $99,995.00. Following the completion of the acquisition, the insider now owns 24,285 shares in the company, valued at $169,995. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Gustafson bought 14,286 shares of Everspin Technologies stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $7.00 per share, with a total value of $100,002.00. Following the acquisition, the director now owns 14,286 shares of the company’s stock, valued at approximately $100,002. The disclosure for this purchase can be found here. 32.80% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in MRAM. Wells Fargo & Company MN purchased a new position in shares of Everspin Technologies in the second quarter valued at $322,000. Vanguard Group Inc. increased its position in shares of Everspin Technologies by 248.2% in the second quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after buying an additional 98,963 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of Everspin Technologies in the third quarter valued at $560,000. EAM Investors LLC increased its position in shares of Everspin Technologies by 223.3% in the third quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after buying an additional 87,167 shares in the last quarter. Finally, B. Riley Financial Inc. increased its position in shares of Everspin Technologies by 135.2% in the third quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after buying an additional 23,408 shares in the last quarter. Institutional investors and hedge funds own 17.57% of the company’s stock.
MRAM stock traded down $0.36 during midday trading on Thursday, reaching $8.10. 85,886 shares of the company’s stock were exchanged, compared to its average volume of 219,639. Everspin Technologies has a 52 week low of $6.40 and a 52 week high of $25.39. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.22 and a quick ratio of 1.42. The firm has a market capitalization of $131.75, a PE ratio of -4.79 and a beta of 3.61.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Thursday, March 15th. The business services provider reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.01. The business had revenue of $10.10 million for the quarter, compared to analysts’ expectations of $10.10 million. Everspin Technologies had a negative net margin of 58.81% and a negative return on equity of 129.52%. The company’s quarterly revenue was up 42.3% compared to the same quarter last year. equities research analysts anticipate that Everspin Technologies will post -0.16 EPS for the current fiscal year.
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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