Everspin Technologies (NASDAQ:MRAM – Free Report) had its target price boosted by Craig Hallum from $10.00 to $12.00 in a research report released on Friday morning, The Fly reports.
Several other analysts have also recently issued reports on MRAM. Needham & Company LLC upped their price objective on Everspin Technologies from $9.00 to $10.00 and gave the stock a strong-buy rating in a report on Thursday, March 2nd. StockNews.com initiated coverage on shares of Everspin Technologies in a research note on Thursday, May 18th. They set a buy rating on the stock.
Everspin Technologies Stock Performance
MRAM opened at $9.21 on Friday. The stock has a market capitalization of $189.91 million, a price-to-earnings ratio of 40.04 and a beta of 1.28. The company has a fifty day moving average of $7.87 and a 200 day moving average of $6.93. Everspin Technologies has a fifty-two week low of $4.71 and a fifty-two week high of $9.99.
Everspin Technologies (NASDAQ:MRAM – Free Report) last issued its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Everspin Technologies has a return on equity of 13.28% and a net margin of 8.19%. The firm had revenue of $14.85 million during the quarter.
Insider Activity
In other news, CEO Sanjeev Aggarwal sold 5,536 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $6.62, for a total transaction of $36,648.32. Following the transaction, the chief executive officer now owns 260,784 shares of the company’s stock, valued at approximately $1,726,390.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Anuj Aggarwal sold 5,139 shares of Everspin Technologies stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $6.62, for a total transaction of $34,020.18. Following the completion of the transaction, the chief financial officer now directly owns 220,775 shares of the company’s stock, valued at approximately $1,461,530.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjeev Aggarwal sold 5,536 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $6.62, for a total transaction of $36,648.32. Following the completion of the sale, the chief executive officer now directly owns 260,784 shares in the company, valued at $1,726,390.08. The disclosure for this sale can be found here. Insiders sold 12,227 shares of company stock valued at $83,907 in the last ninety days. Insiders own 5.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MRAM. JPMorgan Chase & Co. boosted its holdings in Everspin Technologies by 32,978.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,631 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 4,617 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Everspin Technologies during the second quarter valued at $55,000. Commonwealth Equity Services LLC purchased a new stake in shares of Everspin Technologies during the third quarter valued at $58,000. Cowen Prime Advisors LLC grew its holdings in shares of Everspin Technologies by 235.0% in the fourth quarter. Cowen Prime Advisors LLC now owns 10,887 shares of the business services provider’s stock worth $61,000 after purchasing an additional 7,637 shares during the last quarter. Finally, Man Group plc increased its stake in Everspin Technologies by 17.2% in the 4th quarter. Man Group plc now owns 14,997 shares of the business services provider’s stock worth $83,000 after buying an additional 2,200 shares during the period. Institutional investors own 39.71% of the company’s stock.
About Everspin Technologies
(Free Report)
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, Germany, 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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