Equities analysts forecast that Everspin Technologies Inc (NASDAQ:MRAM) will post $10.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Everspin Technologies’ earnings. Everspin Technologies reported sales of $7.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 42.3%. The business is expected to issue its next quarterly earnings results after the market closes on Friday, March 9th.
On average, analysts expect that Everspin Technologies will report full year sales of $10.10 million for the current fiscal year. For the next year, analysts anticipate that the business will report sales of $61.75 million per share, with estimates ranging from $49.20 million to $74.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Everspin Technologies.
Several equities research analysts recently weighed in on MRAM shares. Zacks Investment Research downgraded shares of Everspin Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Needham & Company LLC cut their target price on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 14th. cut their target price on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 15th. Finally, Canaccord Genuity cut their target price on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Everspin Technologies presently has a consensus rating of “Buy” and a consensus target price of $16.75.
In other news, insider Kevin Conley purchased 14,285 shares of the stock in a transaction on Monday, February 12th. The stock was bought at an average price of $7.00 per share, for a total transaction of $99,995.00. Following the acquisition, the insider now directly owns 24,285 shares of the company’s stock, valued at approximately $169,995. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Gustafson purchased 14,286 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $7.00 per share, with a total value of $100,002.00. Following the acquisition, the director now directly owns 14,286 shares in the company, valued at $100,002. The disclosure for this purchase can be found here. Insiders own 32.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN acquired a new position in Everspin Technologies during the 2nd quarter worth approximately $322,000. Bamco Inc. NY boosted its holdings in shares of Everspin Technologies by 20.3% in the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock valued at $4,167,000 after buying an additional 41,100 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Everspin Technologies in the 2nd quarter valued at $525,000. B. Riley Financial Inc. boosted its holdings in shares of Everspin Technologies 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. Finally, EAM Investors LLC boosted its holdings in shares of Everspin Technologies 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. Institutional investors own 13.87% of the company’s stock.
Shares of Everspin Technologies (NASDAQ:MRAM) traded down $0.12 on Friday, reaching $7.67. 93,700 shares of the company traded hands, compared to its average volume of 272,115. Everspin Technologies has a 1 year low of $6.40 and a 1 year high of $25.39. The stock has a market cap of $125.38, a P/E ratio of -4.21 and a beta of 3.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04.
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Everspin Technologies 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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