Everspin Tech (MRAM) Expected to Post Quarterly Sales of $10.10 Million
Equities research analysts expect Everspin Tech (NASDAQ:MRAM) to report sales of $10.10 million for the current quarter, according to Zacks. Two analysts have provided estimates for Everspin Tech’s earnings. Everspin Tech posted sales of $7.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 42.3%. The firm is scheduled to report its next earnings report on Friday, March 9th.
According to Zacks, analysts expect that Everspin Tech will report full year sales of $10.10 million for the current fiscal year. For the next financial year, analysts forecast that the business will report sales of $61.75 million per share, with estimates ranging from $49.20 million to $74.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Everspin Tech.
Everspin Tech (NASDAQ:MRAM) last released its quarterly earnings results on Monday, November 13th. The business services provider reported ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. The firm had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. Everspin Tech had a negative return on equity of 108.26% and a negative net margin of 66.90%. Everspin Tech’s revenue was up 31.7% on a year-over-year basis.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in Everspin Tech during the 1st quarter valued at about $126,000. Concert Wealth Management Inc. acquired a new position in Everspin Tech during the 2nd quarter valued at about $264,000. Wells Fargo & Company MN acquired a new position in Everspin Tech during the 2nd quarter valued at about $322,000. B. Riley Financial Inc. acquired a new position in Everspin Tech during the 2nd quarter valued at about $346,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Everspin Tech during the 2nd quarter valued at about $419,000. 24.32% of the stock is currently owned by institutional investors.
Everspin Tech (NASDAQ MRAM) opened at $7.69 on Monday. The company has a current ratio of 3.04, a quick ratio of 2.27 and a debt-to-equity ratio of 0.74. Everspin Tech has a 1 year low of $6.63 and a 1 year high of $25.39.
About Everspin Tech
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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