Everspin Tech (NASDAQ:MRAM) had its price objective lowered by analysts at Needham from $24.00 to $17.00 in a note issued to investors on Wednesday. The firm presently has a “strong-buy” rating on the business services provider’s stock. Needham’s target price suggests a potential upside of 105.81% from the stock’s current price.
MRAM has been the subject of a number of other research reports. raised Everspin Tech from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. restated a “buy” rating and set a $18.00 price target on shares of Everspin Tech in a report on Thursday, October 12th. restated a “buy” rating and set a $24.00 price target on shares of Everspin Tech in a report on Monday, August 28th. Finally, restated a “buy” rating and set a $18.00 price target (up previously from $12.00) on shares of Everspin Tech in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $17.50.
Shares of Everspin Tech (MRAM) opened at $8.26 on Wednesday. Everspin Tech has a 52 week low of $6.63 and a 52 week high of $25.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.57 and a current ratio of 4.47.
Everspin Tech (NASDAQ:MRAM) last released its earnings results on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. Everspin Tech had a negative return on equity of 98.45% and a negative net margin of 66.90%. The company had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. equities analysts predict that Everspin Tech will post -1.79 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in MRAM. Royce & Associates LP purchased a new position in Everspin Tech during the 2nd quarter valued at about $2,833,000. Vanguard Group Inc. increased its holdings in Everspin Tech by 248.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after purchasing an additional 98,963 shares during the period. EAM Investors LLC grew its holdings in shares of Everspin Tech by 223.3% during 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 during the period. Granite Investment Partners LLC purchased a new position in shares of Everspin Tech during the 3rd quarter worth approximately $560,000. Finally, Bamco Inc. NY grew its holdings in shares of Everspin Tech by 15.5% during the 2nd quarter. Bamco Inc. NY now owns 202,725 shares of the business services provider’s stock worth $4,050,000 after acquiring an additional 27,183 shares during the period. Institutional investors own 28.28% of the company’s stock.
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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