JPMorgan Chase & Co. Decreases Stake in Everspin Technologies, Inc. (NASDAQ:MRAM)

JPMorgan Chase & Co. cut its holdings in shares of Everspin Technologies, Inc. (NASDAQ:MRAM) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,346 shares of the business services provider’s stock after selling 7,322 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.23% of Everspin Technologies worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Everspin Technologies in the 4th quarter worth approximately $75,000. Jane Street Group LLC bought a new position in shares of Everspin Technologies in the third quarter worth $82,000. Total Clarity Wealth Management Inc. bought a new position in shares of Everspin Technologies in the fourth quarter worth $162,000. Bailard Inc. bought a new stake in shares of Everspin Technologies during the 4th quarter valued at $292,000. Finally, Barclays PLC lifted its holdings in Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after purchasing an additional 32,240 shares in the last quarter. Institutional investors own 44.68% of the company’s stock.

Everspin Technologies Stock Performance

Shares of NASDAQ:MRAM opened at $5.78 on Friday. The firm has a market capitalization of $129.19 million, a PE ratio of 96.33 and a beta of 0.62. Everspin Technologies, Inc. has a 52-week low of $4.34 and a 52-week high of $7.00. The firm has a fifty day moving average of $5.18 and a 200 day moving average of $5.84.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $13.20 million during the quarter, compared to analysts’ expectations of $12.50 million. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 35,142 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $5.37, for a total transaction of $188,712.54. Following the transaction, the chief executive officer now owns 654,828 shares of the company’s stock, valued at approximately $3,516,426.36. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 54,422 shares of company stock worth $285,429 over the last ninety days. Insiders own 6.90% of the company’s stock.

Wall Street Analyst Weigh In

MRAM has been the topic of several analyst reports. StockNews.com cut Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC assumed coverage on shares of Everspin Technologies in a report on Thursday. They set a “buy” rating on the stock.

Everspin Technologies Profile

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.