Equities research analysts expect that Everspin Tech (NASDAQ:MRAM) will announce earnings per share of ($0.39) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Everspin Tech’s earnings, with the highest EPS estimate coming in at ($0.32) and the lowest estimate coming in at ($0.46). Everspin Tech reported earnings per share of ($0.54) during the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The firm is expected to report its next earnings report on Monday, November 13th.

On average, analysts expect that Everspin Tech will report full year earnings of ($1.57) per share for the current fiscal year, with EPS estimates ranging from ($1.78) to ($1.35). For the next financial year, analysts forecast that the firm will post earnings of $0.36 per share, with EPS estimates ranging from $0.11 to $0.61. Zacks’ EPS averages are an average based on a survey of analysts that cover Everspin Tech.

Everspin Tech (NASDAQ:MRAM) last released its quarterly earnings data on Thursday, August 10th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by $0.02. The company had revenue of $8.93 million during the quarter, compared to analysts’ expectations of $8.75 million.

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Everspin Tech in a report on Monday, June 12th. Stifel Nicolaus raised their price target on Everspin Tech from $11.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Zacks Investment Research downgraded Everspin Tech from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $18.00 target price (up from $12.00) on shares of Everspin Tech in a research note on Monday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.20.

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Everspin Tech (NASDAQ MRAM) traded up 5.92% during trading on Friday, reaching $15.57. The company’s stock had a trading volume of 161,977 shares. Everspin Tech has a 1-year low of $6.15 and a 1-year high of $25.39. The stock’s market capitalization is $197.33 million. The stock has a 50 day moving average price of $19.87 and a 200 day moving average price of $13.30.

Large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC increased its stake 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 shares of Everspin Tech during the first quarter worth approximately $1,223,000. Mesirow Financial Investment Management Equity Management bought a new position in shares of Everspin Tech during the first quarter worth approximately $417,000. Dialectic Capital Management LP bought a new position in shares of Everspin Tech during the first quarter worth approximately $182,000. Finally, Stifel Financial Corp bought a new position in shares of Everspin Tech during the second quarter worth approximately $525,000. 41.25% 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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