Needham & Company LLC Forecasts Strong Price Appreciation for Everspin Tech (NASDAQ:MRAM) Stock

Everspin Tech (NASDAQ:MRAM) had its price target lifted by equities research analysts at Needham & Company LLC from $8.00 to $10.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 14.25% from the stock’s previous close.

A number of other brokerages have also weighed in on MRAM. Weiss Ratings reiterated a “hold (c-)” rating on shares of Everspin Tech in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Everspin Tech from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

Everspin Tech Price Performance

MRAM opened at $9.19 on Monday. The company has a market cap of $210.08 million, a price-to-earnings ratio of -306.33 and a beta of 0.47. Everspin Tech has a fifty-two week low of $4.34 and a fifty-two week high of $12.27. The firm has a 50 day simple moving average of $9.34 and a 200 day simple moving average of $7.29.

Everspin Tech (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.00 million. Everspin Tech had a negative return on equity of 0.89% and a negative net margin of 1.06%. Everspin Tech has set its Q4 2025 guidance at 0.080-0.130 EPS.

Insider Transactions at Everspin Tech

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 17,147 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $10.15, for a total value of $174,042.05. Following the completion of the transaction, the chief executive officer owned 574,757 shares in the company, valued at $5,833,783.55. This represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everspin Tech

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in Everspin Tech in the third quarter worth $433,000. Herald Investment Management Ltd lifted its holdings in shares of Everspin Tech by 18.5% in the third quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock worth $7,416,000 after buying an additional 125,000 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in Everspin Tech in the 3rd quarter valued at $131,000. Brevan Howard Capital Management LP purchased a new position in Everspin Tech during the second quarter worth about $227,000. Finally, Bank of America Corp DE grew its holdings in shares of Everspin Tech by 28.6% during the second quarter. Bank of America Corp DE now owns 27,150 shares of the business services provider’s stock worth $171,000 after purchasing an additional 6,041 shares in the last quarter. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Everspin Tech Company 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.