Everspin Tech (NASDAQ:MRAM) Director Sells $793,578.56 in Stock

Everspin Tech (NASDAQ:MRAM) Director Geoffrey Ribar sold 27,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total value of $793,578.56. Following the sale, the director directly owned 94,063 shares of the company’s stock, valued at $2,715,598.81. This represents a 22.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Everspin Tech Trading Up 12.1%

NASDAQ MRAM traded up $3.51 during trading hours on Thursday, hitting $32.45. 3,545,679 shares of the company’s stock were exchanged, compared to its average volume of 1,870,804. The stock has a 50-day simple moving average of $15.81 and a 200 day simple moving average of $12.25. Everspin Tech has a 1-year low of $5.49 and a 1-year high of $51.50. The firm has a market cap of $760.95 million, a price-to-earnings ratio of 3,248.25 and a beta of 1.75.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC raised their target price on Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Hedge Funds Weigh In On Everspin Tech

A number of institutional investors have recently modified their holdings of MRAM. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Everspin Tech during the fourth quarter worth approximately $2,204,000. Bank of America Corp DE raised its position in shares of Everspin Tech by 783.4% during the first quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after purchasing an additional 194,617 shares during the period. Jane Street Group LLC grew its holdings in shares of Everspin Tech by 265.0% during the fourth quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider’s stock valued at $1,707,000 after buying an additional 133,560 shares during the last quarter. Herald Investment Management Ltd grew its holdings in shares of Everspin Tech by 18.5% during the third quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock valued at $7,416,000 after buying an additional 125,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Everspin Tech during the second quarter valued at about $716,000. 44.68% of the stock is owned by institutional investors and hedge funds.

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.