Everspin Technologies (NASDAQ:MRAM) announced its earnings results on Thursday, March 15th. The business services provider reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.01, Bloomberg Earnings reports. The firm had revenue of $10.10 million for the quarter, compared to analyst estimates of $10.10 million. Everspin Technologies had a negative net margin of 58.81% and a negative return on equity of 129.52%. The business’s revenue was up 42.3% compared to the same quarter last year. Everspin Technologies updated its Q1 guidance to ($0.45-0.41) EPS.
Shares of MRAM opened at $7.39 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.42 and a debt-to-equity ratio of 0.75. Everspin Technologies has a twelve month low of $6.40 and a twelve month high of $25.39.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Everspin Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, March 16th. Needham & Company LLC restated a “buy” rating and set a $17.00 target price on shares of Everspin Technologies in a research report on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of Everspin Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $14.75.
In other Everspin Technologies news, Director Michael B. Gustafson purchased 14,286 shares of Everspin Technologies stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $7.00 per share, with a total value of $100,002.00. Following the transaction, the director now owns 14,286 shares of the company’s stock, valued at approximately $100,002. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Conley purchased 14,285 shares of Everspin Technologies stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $7.00 per share, with a total value of $99,995.00. Following the completion of the transaction, the insider now directly owns 24,285 shares in the company, valued at approximately $169,995. The disclosure for this purchase can be found here. Corporate insiders own 32.80% of the company’s stock.
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Everspin Technologies Company Profile
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers first generation, second generation, third generation, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems.
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