Shares of Everspin Technologies Inc (NASDAQ:MRAM) have earned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.
Analysts have set a one year consensus target price of $15.25 for the company and are forecasting that the company will post ($0.37) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Everspin Technologies an industry rank of 192 out of 265 based on the ratings given to related companies.
MRAM has been the subject of several research reports. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Stifel Nicolaus restated a “buy” rating and issued a $18.00 price objective on shares of Everspin Technologies in a report on Thursday, October 12th. Needham & Company LLC decreased their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 14th. decreased their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 15th. Finally, Canaccord Genuity decreased their price objective on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 17th.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data 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. Everspin Technologies had a negative net margin of 66.90% and a negative return on equity of 108.26%. The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. sell-side analysts predict that Everspin Technologies will post -1.72 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Bamco Inc. NY increased its stake in shares of Everspin Technologies by 20.3% in the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock worth $4,167,000 after acquiring an additional 41,100 shares in the last quarter. B. Riley Financial Inc. increased its stake in shares of Everspin Technologies by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock worth $696,000 after acquiring an additional 23,408 shares in the last quarter. EAM Investors LLC increased its stake in shares of Everspin Technologies by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock worth $2,157,000 after acquiring an additional 87,167 shares in the last quarter. Granite Investment Partners LLC bought a new position in shares of Everspin Technologies in the 3rd quarter worth about $560,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Everspin Technologies in the 2nd quarter worth about $419,000. Institutional investors own 24.32% of the company’s stock.
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Everspin Technologies 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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