Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Time to Buy?

Everspin Tech (NASDAQ:MRAM) gapped up before the market opened on Monday . The stock had previously closed at $24.41, but opened at $26.82. Everspin Tech shares last traded at $26.8780, with a volume of 613,749 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research note on Friday, March 27th. Needham & Company LLC boosted their target price on shares of Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Everspin Tech Stock Up 16.5%

The firm’s 50 day simple moving average is $22.33 and its two-hundred day simple moving average is $14.57. The stock has a market cap of $666.92 million, a P/E ratio of 2,844.54 and a beta of 1.87.

Everspin Tech (NASDAQ:MRAM) last released its earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The firm 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.

Insiders Place Their Bets

In related news, Director Geoffrey G. Ribar sold 27,488 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $28.87, for a total value of $793,578.56. Following the sale, the director owned 94,063 shares of the company’s stock, valued at $2,715,598.81. This trade represents a 22.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Darin G. Billerbeck sold 30,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.16, for a total transaction of $1,114,800.00. Following the completion of the sale, the director directly owned 124,073 shares in the company, valued at approximately $4,610,552.68. This trade represents a 19.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 176,499 shares of company stock worth $5,032,220. 6.30% of the stock is owned by company insiders.

Institutional Trading of Everspin Tech

A number of large investors have recently modified their holdings of MRAM. Nano Cap New Millennium Growth Fund L P acquired a new stake in Everspin Tech in the 4th quarter valued at approximately $2,204,000. Bank of America Corp DE increased its position in Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock valued at $1,929,000 after acquiring an additional 194,617 shares during the period. Jane Street Group LLC increased its position in Everspin Tech by 265.0% in the 4th quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider’s stock valued at $1,707,000 after acquiring an additional 133,560 shares during the period. Herald Investment Management Ltd increased its position in Everspin Tech by 18.5% in the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock valued at $7,416,000 after acquiring an additional 125,000 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Everspin Tech in the 2nd quarter valued at approximately $716,000. 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.