Everspin Tech (MRAM) Rating Reiterated by Stifel Nicolaus

Everspin Tech (NASDAQ:MRAM)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a report released on Thursday. They presently have a $18.00 target price on the business services provider’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 53.85% from the stock’s previous close.

A number of other research firms have also recently issued reports on MRAM. Zacks Investment Research cut Everspin Tech from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 target price on shares of Everspin Tech in a research report on Monday, August 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $18.00 target price (up previously from $12.00) on shares of Everspin Tech in a research report on Monday, August 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Everspin Tech presently has a consensus rating of “Buy” and an average target price of $18.50.

Shares of Everspin Tech (MRAM) traded down 6.55% during trading on Thursday, hitting $11.70. 248,724 shares of the stock were exchanged. Everspin Tech has a 1-year low of $6.25 and a 1-year high of $25.39. The firm’s 50-day moving average is $15.53 and its 200 day moving average is $15.53. The company’s market cap is $148.29 million.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The company had revenue of $8.93 million during the quarter, compared to analyst estimates of $8.75 million. Equities analysts forecast that Everspin Tech will post ($1.73) earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in MRAM. Renaissance Technologies LLC bought a new position in Everspin Tech in the first quarter valued at about $126,000. Royce & Associates LP bought a new position in Everspin Tech in the second quarter valued at about $2,833,000. Wells Fargo & Company MN bought a new position in Everspin Tech in the second quarter valued at about $322,000. Concert Wealth Management Inc. bought a new position in Everspin Tech in the second quarter valued at about $264,000. Finally, Vanguard Group Inc. grew its position in Everspin Tech by 248.2% in the second quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after acqui

A number of other research firms have also recently issued reports on MRAM. Zacks Investment Research cut Everspin Tech from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 target price on shares of Everspin Tech in a research report on Monday, August 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $18.00 target price (up previously from $12.00) on shares of Everspin Tech in a research report on Monday, August 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Everspin Tech presently has a consensus rating of “Buy” and an average target price of $18.50.

Shares of Everspin Tech (MRAM) traded down 6.55% during trading on Thursday, hitting $11.70. 248,724 shares of the stock were exchanged. Everspin Tech has a 1-year low of $6.25 and a 1-year high of $25.39. The firm’s 50-day moving average is $15.53 and its 200 day moving average is $15.53. The company’s market cap is $148.29 million.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The company had revenue of $8.93 million during the quarter, compared to analyst estimates of $8.75 million. Equities analysts forecast that Everspin Tech will post ($1.73) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/14/everspin-tech-mram-rating-reiterated-by-stifel-nicolaus.html.

A number of institutional investors have recently added to or reduced their stakes in MRAM. Renaissance Technologies LLC bought a new position in Everspin Tech in the first quarter valued at about $126,000. Royce & Associates LP bought a new position in Everspin Tech in the second quarter valued at about $2,833,000. Wells Fargo & Company MN bought a new position in Everspin Tech in the second quarter valued at about $322,000. Concert Wealth Management Inc. bought a new position in Everspin Tech in the second quarter valued at about $264,000. Finally, Vanguard Group Inc. grew its position in Everspin Tech by 248.2% in the second quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after acquiring an additional 98,963 shares during the last quarter. Hedge funds and other institutional investors own 28.91% of the company’s stock.

About Everspin Tech

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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