Victory Capital Management Inc. Acquires Shares of 14,988 Everspin Technologies, Inc. (NASDAQ:MRAM)

Victory Capital Management Inc. acquired a new stake in Everspin Technologies, Inc. (NASDAQ:MRAM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,988 shares of the business services provider’s stock, valued at approximately $138,000. Victory Capital Management Inc. owned 0.07% of Everspin Technologies as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Everspin Technologies by 39.9% during the 1st quarter. Bank of New York Mellon Corp now owns 56,919 shares of the business services provider’s stock worth $496,000 after purchasing an additional 16,245 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 period. Renaissance Technologies LLC grew its stake in shares of Everspin Technologies by 2.4% during the 1st quarter. Renaissance Technologies LLC now owns 269,806 shares of the business services provider’s stock worth $2,350,000 after purchasing an additional 6,300 shares during the period. State Street Corp grew its stake in shares of Everspin Technologies by 12.4% during the 1st quarter. State Street Corp now owns 45,088 shares of the business services provider’s stock worth $393,000 after purchasing an additional 4,961 shares during the period. Finally, PDT Partners LLC grew its stake in shares of Everspin Technologies by 13.6% during the 1st quarter. PDT Partners LLC now owns 21,588 shares of the business services provider’s stock worth $188,000 after purchasing an additional 2,588 shares during the period. 42.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MRAM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Everspin Technologies in a research note on Thursday, August 3rd. TheStreet upgraded shares of Everspin Technologies from a “c+” rating to a “b” rating in a research report on Thursday, August 17th. Finally, StockNews.com upgraded shares of Everspin Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Insider Buying and Selling

In other Everspin Technologies news, Director Geoffrey G. Ribar sold 42,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $9.82, for a total value of $412,440.00. Following the transaction, the director now directly owns 94,109 shares in the company, valued at approximately $924,150.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Everspin Technologies news, VP David Schrenk sold 8,927 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $9.80, for a total value of $87,484.60. Following the transaction, the vice president now directly owns 60,938 shares in the company, valued at approximately $597,192.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Geoffrey G. Ribar sold 42,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $9.82, for a total transaction of $412,440.00. Following the transaction, the director now owns 94,109 shares in the company, valued at $924,150.38. The disclosure for this sale can be found here. Insiders have sold 92,426 shares of company stock worth $904,081 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Everspin Technologies Stock Up 5.9 %

Everspin Technologies stock opened at $8.85 on Monday. Everspin Technologies, Inc. has a 52 week low of $5.15 and a 52 week high of $10.50. The firm’s 50-day simple moving average is $9.83 and its 200 day simple moving average is $9.03. The firm has a market capitalization of $184.08 million, a PE ratio of 25.29 and a beta of 1.27.

Everspin Technologies Profile

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.