Bamco Inc. NY Acquires 27,183 Shares of EVERSPIN TECH (MRAM)
Bamco Inc. NY grew its holdings in EVERSPIN TECH (NASDAQ:MRAM) by 15.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,725 shares of the business services provider’s stock after buying an additional 27,183 shares during the period. Bamco Inc. NY owned approximately 1.62% of EVERSPIN TECH worth $4,050,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Royce & Associates LP bought a new stake in shares of EVERSPIN TECH in the 2nd quarter worth about $2,833,000. Vanguard Group Inc. raised its position in shares of EVERSPIN TECH by 248.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after buying an additional 98,963 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of EVERSPIN TECH during the 2nd quarter valued at about $780,000. B. Riley Financial Inc. purchased a new stake in shares of EVERSPIN TECH during the 2nd quarter valued at about $346,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of EVERSPIN TECH during the 2nd quarter valued at about $322,000. 28.91% of the stock is owned by institutional investors and hedge funds.
Shares of EVERSPIN TECH (NASDAQ MRAM) opened at 17.09 on Monday. The company’s market capitalization is $216.60 million. EVERSPIN TECH has a 12 month low of $6.15 and a 12 month high of $17.74. The company has a 50-day moving average price of $16.60 and a 200-day moving average price of $16.60.
EVERSPIN TECH (NASDAQ:MRAM) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $8.93 million for the quarter, compared to analysts’ expectations of $8.75 million. On average, analysts forecast that EVERSPIN TECH will post ($1.73) EPS for the current fiscal year.
A number of brokerages recently commented on MRAM. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of EVERSPIN TECH in a report on Monday, June 12th. Stifel Nicolaus boosted their price objective on EVERSPIN TECH from $11.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Zacks Investment Research cut EVERSPIN TECH from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. Finally, Canaccord Genuity restated a “buy” rating and set a $18.00 price objective (up from $12.00) on shares of EVERSPIN TECH in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. EVERSPIN TECH currently has a consensus rating of “Buy” and an average target price of $16.60.
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EVERSPIN TECH 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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