Everspin Technologies (MRAM) Issues Q1 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of (-0.28)-(-0.24) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.28). The company issued revenue guidance of $9.5-9.9 million, compared to the consensus revenue estimate of $12.43 million.Everspin Technologies also updated its Q1 2019 guidance to $-0.28–0.24 EPS.

MRAM traded down $0.01 on Thursday, hitting $8.39. The company had a trading volume of 192,973 shares, compared to its average volume of 75,942. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.95 and a quick ratio of 2.36. Everspin Technologies has a 52-week low of $5.30 and a 52-week high of $11.20. The firm has a market capitalization of $143.08 million, a PE ratio of -4.96 and a beta of 2.52.

MRAM has been the subject of several research analyst reports. Needham & Company LLC restated a buy rating and issued a $14.00 price objective on shares of Everspin Technologies in a report on Wednesday, February 20th. ValuEngine upgraded shares of Everspin Technologies from a hold rating to a buy rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research lowered shares of Everspin Technologies from a buy rating to a hold rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $11.83.

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About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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