Everspin Technologies’ (MRAM) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Everspin Technologies Inc (NASDAQ:MRAM) in a research note issued to investors on Monday. They currently have a $24.00 target price on the business services provider’s stock.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research raised Everspin Technologies from a sell rating to a hold rating in a research note on Wednesday, May 17th. Stifel Nicolaus increased their price objective on Everspin Technologies from $11.00 to $19.00 and gave the stock a buy rating in a research note on Monday, June 5th. Finally, Canaccord Genuity reissued a buy rating and issued a $18.00 price objective (up from $12.00) on shares of Everspin Technologies in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $16.60.
Everspin Technologies (MRAM) opened at 16.30 on Monday. Everspin Technologies has a 52 week low of $6.15 and a 52 week high of $25.39. The firm’s market cap is $206.59 million. The company has a 50-day moving average of $18.11 and a 200 day moving average of $13.85.
Everspin Technologies (NASDAQ:MRAM) last announced its earnings results on Thursday, August 10th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by $0.02. Everspin Technologies had a negative net margin of 58.12% and a negative return on equity of 105.37%. The company had revenue of $8.93 million for the quarter, compared to analysts’ expectations of $8.75 million. On average, equities analysts predict that Everspin Technologies will post ($1.73) earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. Concert Wealth Management Inc. purchased a new stake in Everspin Technologies during the second quarter worth $264,000. Renaissance Technologies LLC purchased a new stake in Everspin Technologies during the first quarter worth $126,000. Wells Fargo & Company MN purchased a new stake in Everspin Technologies during the second quarter worth $322,000. B. Riley Financial Inc. purchased a new stake in Everspin Technologies during the second quarter worth $346,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Everspin Technologies during the second quarter worth $419,000. 28.95% of the stock is owned by institutional investors.
Everspin Technologies 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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