Everspin Technologies (NASDAQ:MRAM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAMFree Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

MRAM has been the subject of several other reports. Craig Hallum cut their price target on shares of Everspin Technologies from $11.00 to $10.00 and set a buy rating for the company in a report on Thursday, May 2nd. Needham & Company LLC cut their price target on shares of Everspin Technologies from $12.00 to $8.00 and set a buy rating for the company in a report on Thursday, May 2nd.

Get Our Latest Stock Analysis on Everspin Technologies

Everspin Technologies Stock Performance

Shares of NASDAQ:MRAM opened at $5.86 on Thursday. The company has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $8.13. Everspin Technologies has a one year low of $5.84 and a one year high of $10.50. The stock has a market capitalization of $126.11 million, a price-to-earnings ratio of 15.84 and a beta of 0.99.

Everspin Technologies (NASDAQ:MRAMGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $14.43 million for the quarter. Everspin Technologies had a return on equity of 15.70% and a net margin of 12.77%. During the same period in the prior year, the company earned $0.04 earnings per share.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CFO Anuj Aggarwal sold 12,852 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.84, for a total value of $100,759.68. Following the completion of the transaction, the chief financial officer now directly owns 289,924 shares of the company’s stock, valued at $2,273,004.16. The sale was disclosed in a filing with the SEC, which is available at this link. In other Everspin Technologies news, CFO Anuj Aggarwal sold 12,852 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.84, for a total value of $100,759.68. Following the completion of the transaction, the chief financial officer now directly owns 289,924 shares of the company’s stock, valued at $2,273,004.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjeev Aggarwal sold 17,452 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $7.84, for a total transaction of $136,823.68. Following the completion of the transaction, the chief executive officer now directly owns 476,679 shares of the company’s stock, valued at $3,737,163.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,502 shares of company stock valued at $599,237. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

Several large investors have recently modified their holdings of MRAM. Jump Financial LLC acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $182,000. Barclays PLC acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $99,000. WINTON GROUP Ltd acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $241,000. Acadian Asset Management LLC grew its position in shares of Everspin Technologies by 16.8% in the third quarter. Acadian Asset Management LLC now owns 507,115 shares of the business services provider’s stock valued at $4,982,000 after purchasing an additional 73,109 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in Everspin Technologies by 14.8% during the third quarter. Truvestments Capital LLC now owns 35,720 shares of the business services provider’s stock worth $351,000 after acquiring an additional 4,609 shares during the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

About Everspin Technologies

(Get Free Report)

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.

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