Zacks Investment Research downgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a sell rating in a research report released on Wednesday morning.
According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “
A number of other equities analysts have also weighed in on MRAM. Needham & Company LLC reiterated a buy rating and set a $17.00 price objective on shares of Everspin Technologies in a research note on Thursday, January 18th. Stifel Nicolaus reduced their price objective on Everspin Technologies from $15.00 to $13.00 and set a buy rating for the company in a research note on Friday, March 16th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $14.75.
MRAM stock opened at $8.11 on Wednesday. The firm has a market capitalization of $134.75, a PE ratio of -4.80 and a beta of 3.61. Everspin Technologies has a 52 week low of $6.40 and a 52 week high of $25.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.42 and a current ratio of 2.22.
Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings data on Thursday, March 15th. The business services provider reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.01. The business had revenue of $10.10 million during the quarter, compared to analyst estimates of $10.10 million. Everspin Technologies had a negative return on equity of 129.52% and a negative net margin of 58.81%. The company’s revenue was up 42.3% compared to the same quarter last year. equities research analysts expect that Everspin Technologies will post -0.93 earnings per share for the current fiscal year.
In other Everspin Technologies news, insider Kevin Conley purchased 14,285 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $99,995.00. Following the purchase, the insider now directly owns 24,285 shares in the company, valued at $169,995. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Gustafson purchased 14,286 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $7.00 per share, with a total value of $100,002.00. Following the purchase, the director now owns 14,286 shares in the company, valued at $100,002. The disclosure for this purchase can be found here. 32.80% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in MRAM. Bamco Inc. NY increased its stake in shares of Everspin Technologies by 70.2% in the 4th quarter. Bamco Inc. NY now owns 415,000 shares of the business services provider’s stock valued at $3,112,000 after purchasing an additional 171,175 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Everspin Technologies by 248.2% in the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after purchasing an additional 98,963 shares in the last quarter. EAM Investors LLC increased its stake in shares of Everspin Technologies by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after purchasing an additional 87,167 shares in the last quarter. Royce & Associates LP increased its stake in shares of Everspin Technologies by 24.0% in the 4th quarter. Royce & Associates LP now owns 172,300 shares of the business services provider’s stock valued at $1,292,000 after purchasing an additional 33,400 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of Everspin Technologies in the 3rd quarter valued at about $560,000. Hedge funds and other institutional investors own 17.57% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Everspin Technologies (MRAM) Downgraded to “Sell” at Zacks Investment Research” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://ledgergazette.com/2018/03/22/everspin-technologies-mram-downgraded-to-sell-at-zacks-investment-research.html.
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.
Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.