Everspin Tech (NASDAQ:MRAM – Get Free Report) had its target price hoisted by analysts at Needham & Company LLC from $18.50 to $19.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 14.18% from the company’s current price.
Separately, Weiss Ratings cut Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Everspin Tech has a consensus rating of “Hold” and a consensus target price of $19.00.
Check Out Our Latest Analysis on Everspin Tech
Everspin Tech Stock Performance
Insider Activity at Everspin Tech
In other news, Director Geoffrey G. Ribar sold 27,488 shares of Everspin Tech stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.87, for a total value of $793,578.56. Following the sale, the director directly owned 94,063 shares in the company, valued at $2,715,598.81. This trade represents a 22.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glen Hawk sold 48,563 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.95, for a total transaction of $1,842,965.85. Following the completion of the sale, the director directly owned 39,551 shares in the company, valued at approximately $1,500,960.45. This represents a 55.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 148,843 shares of company stock worth $4,775,218. 6.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Everspin Tech
A number of large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Everspin Tech in the second quarter valued at about $25,000. Kestra Advisory Services LLC bought a new position in Everspin Tech in the fourth quarter valued at approximately $41,000. Occudo Quantitative Strategies LP bought a new position in Everspin Tech in the second quarter valued at approximately $70,000. Fortitude Advisory Group L.L.C. acquired a new position in shares of Everspin Tech during the 1st quarter worth approximately $99,000. Finally, Algert Global LLC acquired a new position in shares of Everspin Tech during the 3rd quarter worth approximately $102,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.
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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