Everspin Tech (NASDAQ:MRAM) Director Sells $1,842,965.85 in Stock

Everspin Tech (NASDAQ:MRAM) Director Glen Hawk sold 48,563 shares of Everspin Tech stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $37.95, for a total value of $1,842,965.85. Following the transaction, the director owned 39,551 shares of the company’s stock, valued at $1,500,960.45. This represents a 55.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Everspin Tech Stock Down 7.5%

Shares of NASDAQ MRAM traded down $3.06 during mid-day trading on Friday, reaching $37.57. 4,406,877 shares of the company were exchanged, compared to its average volume of 1,753,626. The company’s 50-day simple moving average is $13.93 and its 200-day simple moving average is $11.62. The stock has a market capitalization of $881.02 million, a P/E ratio of 3,760.76 and a beta of 1.75. Everspin Tech has a twelve month low of $5.49 and a twelve month high of $51.50.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. The business had revenue of $14.87 million for the quarter, compared to analyst estimates of $14.60 million. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MRAM. Needham & Company LLC increased their target price on Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Everspin Tech from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.50.

Hedge Funds Weigh In On Everspin Tech

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Everspin Tech during the second quarter worth about $25,000. Kestra Advisory Services LLC bought a new position in Everspin Tech during the fourth quarter worth about $41,000. Gordian Capital Singapore Pte Ltd bought a new position in Everspin Tech during the third quarter worth about $82,000. Algert Global LLC bought a new position in Everspin Tech during the third quarter worth about $102,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Everspin Tech during the 2nd quarter valued at $70,000. 44.68% of the stock is owned by institutional investors.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.