Everspin Technologies (NASDAQ:MRAM) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Everspin Technologies (NASDAQ:MRAM – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the business services provider’s stock.

Separately, Needham & Company LLC boosted their price objective on Everspin Technologies from $9.00 to $10.00 and gave the stock a “strong-buy” rating in a research report on Thursday, March 2nd.

Everspin Technologies Stock Up 4.1 %

NASDAQ:MRAM opened at $7.75 on Thursday. The company has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $6.45. The company has a market cap of $159.70 million, a price-to-earnings ratio of 33.67 and a beta of 1.31. Everspin Technologies has a 52 week low of $4.71 and a 52 week high of $9.41.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The business services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Everspin Technologies had a return on equity of 13.28% and a net margin of 8.19%. The business had revenue of $15.69 million during the quarter.

Insider Transactions at Everspin Technologies

In related news, Director Darin G. Billerbeck sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $6.67, for a total value of $66,700.00. Following the completion of the transaction, the director now directly owns 86,197 shares of the company’s stock, valued at $574,933.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Darin G. Billerbeck sold 10,000 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $6.67, for a total value of $66,700.00. Following the transaction, the director now directly owns 86,197 shares of the company’s stock, valued at approximately $574,933.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anuj Aggarwal sold 5,139 shares of the stock in a transaction on 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 in the company, valued at $1,461,530.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,197 shares of company stock valued at $152,894. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MRAM. Royal Bank of Canada grew its stake in Everspin Technologies by 51.4% during the 3rd quarter. Royal Bank of Canada now owns 586,688 shares of the business services provider’s stock worth $3,397,000 after buying an additional 199,118 shares during the last quarter. Vanguard Group Inc. grew its position in Everspin Technologies by 15.6% during the 1st quarter. Vanguard Group Inc. now owns 736,232 shares of the business services provider’s stock worth $6,413,000 after purchasing an additional 99,584 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Everspin Technologies by 76.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 211,124 shares of the business services provider’s stock worth $1,174,000 after purchasing an additional 91,238 shares during the last quarter. GSA Capital Partners LLP grew its position in Everspin Technologies by 146.7% during the 4th quarter. GSA Capital Partners LLP now owns 112,628 shares of the business services provider’s stock worth $626,000 after purchasing an additional 66,979 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Everspin Technologies during the 3rd quarter worth $303,000. Hedge funds and other institutional investors own 41.91% of the company’s stock.

Everspin Technologies Company Profile

(Get Rating)

Everspin Technologies, Inc engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products include Toggle MRAM, Spin-transfer Torque MRAM, TMR Sensors, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.