Everspin Tech (NASDAQ:MRAM) Trading Up 12.2% – Here’s Why

Shares of Everspin Tech (NASDAQ:MRAM) were up 12.2% during trading on Wednesday . The stock traded as high as $21.20 and last traded at $21.3830. Approximately 1,817,987 shares were traded during mid-day trading, an increase of 88% from the average daily volume of 965,321 shares. The stock had previously closed at $19.05.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRAM. Weiss Ratings reissued a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC raised their target price on shares of Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.50.

Everspin Tech Trading Up 25.5%

The firm has a market cap of $632.92 million, a PE ratio of 2,701.70 and a beta of 1.75. The business’s 50-day simple moving average is $11.18 and its 200 day simple moving average is $10.63.

Everspin Tech (NASDAQ:MRAM) last posted its earnings results on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The business had revenue of $14.87 million for the quarter, compared to the consensus estimate of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Transactions at Everspin Tech

In other news, CEO Sanjeev Aggarwal sold 28,459 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $19.58, for a total value of $557,227.22. Following the sale, the chief executive officer directly owned 819,422 shares in the company, valued at approximately $16,044,282.76. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total transaction of $239,250.00. Following the completion of the sale, the chief financial officer owned 161,030 shares in the company, valued at $3,502,402.50. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,448 shares of company stock worth $989,576 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Everspin Tech

A number of institutional investors have recently modified their holdings of the company. Herald Investment Management Ltd boosted its holdings in shares of Everspin Tech by 18.5% in the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock valued at $7,416,000 after buying an additional 125,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Everspin Tech by 13.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after acquiring an additional 46,929 shares during the period. Renaissance Technologies LLC lifted its stake in Everspin Tech by 4.6% during the 4th quarter. Renaissance Technologies LLC now owns 261,367 shares of the business services provider’s stock valued at $2,425,000 after acquiring an additional 11,600 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in Everspin Tech during the 4th quarter valued at approximately $2,204,000. Finally, Geode Capital Management LLC lifted its stake in Everspin Tech by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider’s stock valued at $2,054,000 after acquiring an additional 8,618 shares during the period. 44.68% of the stock is currently owned by institutional investors.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.