Herald Investment Management Ltd Grows Stock Holdings in Everspin Tech $MRAM

Herald Investment Management Ltd boosted its holdings in Everspin Tech (NASDAQ:MRAM) by 12.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 675,000 shares of the business services provider’s stock after buying an additional 75,000 shares during the quarter. Herald Investment Management Ltd’s holdings in Everspin Tech were worth $4,239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC acquired a new position in shares of Everspin Tech during the 2nd quarter valued at about $68,000. Rhumbline Advisers grew its holdings in Everspin Tech by 55.1% in the first quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after purchasing an additional 13,086 shares during the period. Lynrock Lake LP increased its position in Everspin Tech by 132.0% during the first quarter. Lynrock Lake LP now owns 1,586,370 shares of the business services provider’s stock worth $8,090,000 after purchasing an additional 902,489 shares during the last quarter. Hsbc Holdings PLC increased its position in Everspin Tech by 49.4% during the first quarter. Hsbc Holdings PLC now owns 34,122 shares of the business services provider’s stock worth $173,000 after purchasing an additional 11,282 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Everspin Tech during the first quarter worth approximately $133,000. 44.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 17,147 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $10.15, for a total transaction of $174,042.05. Following the completion of the transaction, the chief executive officer owned 574,757 shares in the company, valued at approximately $5,833,783.55. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 20,272 shares of company stock valued at $192,963 in the last three months. Corporate insiders own 6.90% of the company’s stock.

Everspin Tech Stock Up 9.4%

MRAM stock opened at $11.39 on Monday. The stock has a market cap of $257.70 million, a PE ratio of 162.71 and a beta of 0.36. The firm’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $6.25. Everspin Tech has a fifty-two week low of $4.34 and a fifty-two week high of $12.27.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MRAM shares. Wall Street Zen downgraded Everspin Tech from a “buy” rating to a “hold” rating in a report on Friday. Weiss Ratings reissued a “hold (c-)” rating on shares of Everspin Tech in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Everspin Tech Company Profile

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.