Zacks: Everspin Tech (MRAM) Given $11.75 Consensus Target Price by Brokerages
Shares of Everspin Tech (NASDAQ:MRAM) have earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.
Analysts have set a twelve-month consensus price objective of $11.75 for the company and are predicting that the company will post ($0.31) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Everspin Tech an industry rank of 163 out of 265 based on the ratings given to its competitors.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Everspin Tech from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Tuesday, January 17th. Stifel Nicolaus assumed coverage on shares of Everspin Tech in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $11.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Everspin Tech in a research note on Wednesday, November 2nd. They issued a “strong-buy” rating and a $10.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Everspin Tech in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Craig Hallum assumed coverage on shares of Everspin Tech in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $14.00 price objective for the company.
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An institutional investor recently bought a new position in Everspin Tech stock. Unterberg Capital LLC acquired a new stake in shares of Everspin Tech (NASDAQ:MRAM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,732 shares of the company’s stock, valued at approximately $968,000. Everspin Tech accounts for approximately 1.2% of Unterberg Capital LLC’s portfolio, making the stock its 16th largest position. Unterberg Capital LLC owned about 0.93% of Everspin Tech as of its most recent filing with the SEC. 10.48% of the stock is currently owned by institutional investors and hedge funds.
Everspin Tech (NASDAQ:MRAM) opened at 9.04 on Friday. The firm’s market cap is $112.98 million. Everspin Tech has a one year low of $6.15 and a one year high of $9.99. The stock has a 50 day moving average of $8.09 and a 200 day moving average of $7.47.
Everspin Tech Company Profile
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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