The Everspin Technologies Inc (MRAM) Reaches New 1-Year High on Strong Earnings

The Everspin Technologies Inc (MRAM) Reaches New 1-Year High on Strong Earnings

The business services provider reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.02. The business had revenue of $7.88 million during the quarter, compared to analyst estimates of $7.40 million.

Shares of Everspin Technologies Inc (NASDAQ:MRAM) hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $10.56 and last traded at $10.46, with a volume of 30,314 shares changing hands. The stock had previously closed at $10.06.

A number of brokerages have recently issued reports on MRAM. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 target price on shares of Everspin Technologies in a report on Monday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Everspin Technologies in a report on Monday, April 17th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.20. Several large investors have recently bought and sold shares of MRAM. Mesirow Financial Investment Management Equity Management purchased a new stake in Everspin Technologies during the first quarter valued at $417,000. Mutual of America Capital Management LLC raised its stake in Everspin Technologies 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 during the last quarter. Dialectic Capital Management LP purchased a new stake in Everspin Technologies during the first quarter valued at $182,000. Herald Investment Management Ltd purchased a new stake in Everspin Technologies during the first quarter valued at $1,223,000. Finally, Vanguard Group Inc. purchased a new stake in Everspin Technologies during the first quarter valued at $334,000. 10.48% of the stock is currently owned by institutional investors and hedge funds.

About Everspin Technologies 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MRAM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment