Everspin Technologies Inc (MRAM) Receives $14.75 Consensus Price Target from Analysts

Shares of Everspin Technologies Inc (NASDAQ:MRAM) have received an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.75.

MRAM has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Everspin Technologies in a research report on Thursday, August 9th. TheStreet upgraded shares of Everspin Technologies from a “d” rating to a “c-” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th.

Institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp acquired a new position in Everspin Technologies during the 1st quarter valued at about $155,000. Millennium Management LLC acquired a new position in Everspin Technologies during the 1st quarter valued at about $647,000. Royal Bank of Canada lifted its position in Everspin Technologies by 14.2% during the 1st quarter. Royal Bank of Canada now owns 226,916 shares of the business services provider’s stock valued at $1,713,000 after purchasing an additional 28,166 shares during the period. Handelsinvest Investeringsforvaltning acquired a new position in Everspin Technologies during the 3rd quarter valued at about $1,075,000. Finally, Stifel Financial Corp lifted its position in Everspin Technologies by 115.6% during the 1st quarter. Stifel Financial Corp now owns 64,968 shares of the business services provider’s stock valued at $504,000 after purchasing an additional 34,834 shares during the period. Institutional investors own 33.72% of the company’s stock.



NASDAQ MRAM traded up $0.03 on Monday, hitting $6.69. 42,917 shares of the company were exchanged, compared to its average volume of 84,801. The company has a market cap of $112.58 million, a price-to-earnings ratio of -3.96 and a beta of 2.99. The company has a quick ratio of 2.57, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. Everspin Technologies has a 1-year low of $6.33 and a 1-year high of $11.48.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Wednesday, August 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.02. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $11.10 million. Everspin Technologies had a negative net margin of 39.62% and a negative return on equity of 75.89%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts expect that Everspin Technologies will post -1.13 earnings per share for the current year.

About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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