Shares of EVERSPIN TECH (NASDAQ:MRAM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $13.75 for the company and are expecting that the company will post ($0.38) earnings per share for the current quarter, according to Zacks. Zacks has also given EVERSPIN TECH an industry rank of 93 out of 265 based on the ratings given to its competitors.

Several analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of EVERSPIN TECH in a research note on Monday, June 12th. Stifel Nicolaus increased their price target on shares of EVERSPIN TECH from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Zacks Investment Research raised shares of EVERSPIN TECH from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $12.00 price target on shares of EVERSPIN TECH in a research note on Monday, March 13th.

Several institutional investors have recently modified their holdings of MRAM. Renaissance Technologies LLC bought a new position in shares of EVERSPIN TECH during the first quarter valued at approximately $126,000. Vanguard Group Inc. bought a new position in shares of EVERSPIN TECH during the first quarter valued at approximately $334,000. Herald Investment Management Ltd bought a new position in shares of EVERSPIN TECH during the first quarter valued at approximately $1,223,000. Dialectic Capital Management LP bought a new position in shares of EVERSPIN TECH during the first quarter valued at approximately $182,000. Finally, Mutual of America Capital Management LLC raised its position in shares of EVERSPIN TECH by 10.4% in the first quarter. Mutual of America Capital Management LLC now owns 302,449 shares of the business services provider’s stock valued at $2,535,000 after buying an additional 28,472 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Shares of EVERSPIN TECH (MRAM) traded up 1.3991% on Friday, hitting $22.2064. The stock had a trading volume of 198,207 shares. The firm’s market cap is $277.78 million. The firm’s 50-day moving average price is $13.73 and its 200 day moving average price is $9.70. EVERSPIN TECH has a 12 month low of $6.15 and a 12 month high of $22.43.

EVERSPIN TECH (NASDAQ:MRAM) last announced its quarterly earnings data on Friday, May 12th. The business services provider reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.02. The business had revenue of $7.88 million for the quarter, compared to analysts’ expectations of $7.40 million. Analysts anticipate that EVERSPIN TECH will post ($1.35) EPS for the current fiscal year.

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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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