Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Here’s What Happened

Shares of Everspin Tech (NASDAQ:MRAM) gapped up prior to trading on Monday . The stock had previously closed at $26.99, but opened at $36.10. Everspin Tech shares last traded at $35.6880, with a volume of 6,202,963 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRAM. Wall Street Zen lowered Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Needham & Company LLC increased their target price on Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Everspin Tech presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Everspin Tech Stock Up 10.4%

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 4,405.41 and a beta of 1.75. The business has a 50 day moving average price of $12.73 and a 200-day moving average price of $11.19.

Everspin Tech (NASDAQ:MRAM) last posted its earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share (EPS) for the quarter. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The business had revenue of $14.87 million during the quarter, compared to analyst estimates of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Buying and Selling

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 28,459 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $19.58, for a total transaction of $557,227.22. Following the completion of the sale, the chief executive officer owned 819,422 shares in the company, valued at $16,044,282.76. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total value of $239,250.00. Following the sale, the chief financial officer owned 161,030 shares of the company’s stock, valued at approximately $3,502,402.50. This trade represents a 6.39% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 60,448 shares of company stock valued at $989,576. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Everspin Tech

A number of hedge funds have recently bought and sold shares of MRAM. Rhumbline Advisers grew its stake in Everspin Tech by 55.1% during the 1st quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after purchasing an additional 13,086 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Everspin Tech during the 2nd quarter valued at approximately $164,000. Marshall Wace LLP acquired a new stake in Everspin Tech during the 2nd quarter valued at approximately $716,000. Jump Financial LLC acquired a new stake in Everspin Tech during the 2nd quarter valued at approximately $159,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Everspin Tech by 41.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider’s stock worth $650,000 after buying an additional 30,244 shares during the last quarter. Institutional investors and hedge funds own 44.68% of the company’s stock.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.