Equities analysts predict that Everspin Tech (NASDAQ:MRAM) will announce earnings of ($0.40) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Everspin Tech’s earnings. The highest EPS estimate is ($0.37) and the lowest is ($0.43). Everspin Tech posted earnings of ($0.48) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is expected to report its next quarterly earnings results on Friday, March 9th.
According to Zacks, analysts expect that Everspin Tech will report full-year earnings of ($1.76) per share for the current financial year, with EPS estimates ranging from ($1.80) to ($1.71). For the next year, analysts anticipate that the business will post earnings of $0.23 per share, with EPS estimates ranging from ($0.15) to $0.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Everspin Tech.
Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.02. Everspin Tech had a negative return on equity of 108.26% and a negative net margin of 66.90%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $9.90 million. The company’s quarterly revenue was up 31.7% on a year-over-year basis.
Several research analysts have issued reports on MRAM shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price objective on shares of Everspin Tech in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Everspin Tech from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price on shares of Everspin Tech in a research report on Monday, August 28th. dropped their target price on shares of Everspin Tech from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 15th. Finally, Canaccord Genuity dropped their target price on shares of Everspin Tech from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.75.
Several institutional investors have recently modified their holdings of the business. Bamco Inc. NY raised its position in shares of Everspin Tech by 20.3% during the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock valued at $4,167,000 after acquiring an additional 41,100 shares during the last quarter. B. Riley Financial Inc. increased its position in shares of Everspin Tech by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after buying an additional 23,408 shares in the last quarter. EAM Investors LLC increased its position in shares of Everspin Tech by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after buying an additional 87,167 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Everspin Tech in the 3rd quarter valued at $560,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Everspin Tech in the 2nd quarter valued at $419,000. Institutional investors own 29.47% of the company’s stock.
Everspin Tech (NASDAQ MRAM) traded up $0.82 during trading hours on Tuesday, reaching $9.02. The company’s stock had a trading volume of 363,620 shares, compared to its average volume of 163,447. Everspin Tech has a 12-month low of $6.63 and a 12-month high of $25.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04.
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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