Everspin Tech (NASDAQ:MRAM – Get Free Report) CFO William Earl Cooper sold 1,549 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.34, for a total value of $34,604.66. Following the sale, the chief financial officer directly owned 149,481 shares of the company’s stock, valued at $3,339,405.54. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
William Earl Cooper also recently made the following trade(s):
- On Wednesday, May 20th, William Earl Cooper sold 10,000 shares of Everspin Tech stock. The shares were sold at an average price of $29.13, for a total value of $291,300.00.
- On Wednesday, May 6th, William Earl Cooper sold 11,000 shares of Everspin Tech stock. The shares were sold at an average price of $21.75, for a total transaction of $239,250.00.
Everspin Tech Stock Down 9.9%
NASDAQ:MRAM opened at $17.68 on Wednesday. Everspin Tech has a 52 week low of $5.76 and a 52 week high of $51.50. The company has a fifty day simple moving average of $26.33 and a two-hundred day simple moving average of $16.30. The company has a market cap of $414.56 million, a price-to-earnings ratio of 1,769.77 and a beta of 1.88.
Institutional Trading of Everspin Tech
Several hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Everspin Tech during the second quarter worth about $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Everspin Tech during the 4th quarter worth approximately $41,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Everspin Tech during the 3rd quarter worth approximately $82,000. Algert Global LLC acquired a new stake in shares of Everspin Tech in the 3rd quarter worth approximately $102,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Everspin Tech in the 2nd quarter valued at approximately $70,000. 44.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently commented on MRAM. Needham & Company LLC increased their price target on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Everspin Tech presently has a consensus rating of “Hold” and an average price target of $18.50.
Read Our Latest Stock Analysis on MRAM
Everspin Tech Company Profile
Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.
The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.
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