Shares of Everspin Tech (NASDAQ:MRAM – Get Free Report) traded up 8.5% during trading on Monday . The stock traded as high as $28.00 and last traded at $28.6220. 988,671 shares changed hands during trading, a decline of 52% from the average session volume of 2,055,082 shares. The stock had previously closed at $26.38.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC raised their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Everspin Tech has a consensus rating of “Hold” and a consensus target price of $18.50.
Check Out Our Latest Stock Report on Everspin Tech
Everspin Tech Stock Up 10.1%
Everspin Tech (NASDAQ:MRAM – Get Free Report) last posted its earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share for the quarter. The company had revenue of $14.87 million during the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.
Insider Activity at Everspin Tech
In related news, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total transaction of $239,250.00. Following the completion of the transaction, the chief financial officer directly owned 161,030 shares of the company’s stock, valued at approximately $3,502,402.50. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjeev Aggarwal sold 28,459 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $19.58, for a total transaction of $557,227.22. Following the transaction, the chief executive officer directly owned 819,422 shares of the company’s stock, valued at $16,044,282.76. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 176,499 shares of company stock valued at $5,032,220 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.
Hedge Funds Weigh In On Everspin Tech
Institutional investors and hedge funds have recently made changes to their positions in the business. Herald Investment Management Ltd grew its stake in shares of Everspin Tech by 18.5% in the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock worth $7,416,000 after buying an additional 125,000 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Everspin Tech in the 3rd quarter worth $433,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Everspin Tech in the 4th quarter worth $2,204,000. Thompson Davis & CO. Inc. purchased a new position in shares of Everspin Tech in the 3rd quarter worth $131,000. Finally, State of Wyoming purchased a new position in shares of Everspin Tech in the 1st quarter worth $189,000. 44.68% of the stock is owned by hedge funds and other institutional investors.
About Everspin Tech
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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