Everspin Tech (NASDAQ:MRAM)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Friday. They currently have a $18.00 price target on the business services provider’s stock, down from their prior price target of $19.00. Stifel Nicolaus’ target price suggests a potential upside of 18.19% from the stock’s previous close.

A number of other research firms also recently weighed in on MRAM. Zacks Investment Research downgraded Everspin Tech from a “hold” rating to a “sell” rating in a report on Friday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of Everspin Tech in a report on Monday, June 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $13.00.

Everspin Tech (MRAM) traded down 4.2626% during trading on Friday, reaching $14.5808. 156,881 shares of the company traded hands. Everspin Tech has a 12 month low of $6.15 and a 12 month high of $25.39. The company’s 50-day moving average is $20.84 and its 200 day moving average is $13.06. The company’s market cap is $182.39 million.

Everspin Tech (NASDAQ:MRAM) last posted its earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by $0.02. The firm had revenue of $8.93 million during the quarter, compared to the consensus estimate of $8.75 million. On average, analysts anticipate that Everspin Tech will post ($1.45) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC increased its position in Everspin Tech 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 worth $2,535,000 after buying an additional 28,472 shares during the period. Herald Investment Management Ltd bought a new position in Everspin Tech during the first quarter worth approximately $1,223,000. Royce & Associates LP bought a new position in Everspin Tech during the second quarter worth approximately $2,833,000. Unterberg Capital LLC bought a new position in Everspin Tech during the fourth quarter worth approximately $968,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Everspin Tech during the first quarter worth about $417,000. 40.12% of the stock is owned by institutional investors and hedge funds.

Everspin Tech 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.

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