Nano Cap New Millennium Growth Fund L P Buys New Stake in Everspin Tech $MRAM

Nano Cap New Millennium Growth Fund L P bought a new stake in Everspin Tech (NASDAQ:MRAM) during the fourth quarter, Holdings Channel.com reports. The fund bought 237,500 shares of the business services provider’s stock, valued at approximately $2,204,000. Everspin Tech makes up about 1.9% of Nano Cap New Millennium Growth Fund L P’s portfolio, making the stock its 10th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Herald Investment Management Ltd grew its position in shares of 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 buying an additional 125,000 shares during the last quarter. Two Sigma Investments LP grew its position in Everspin Tech by 63.9% during the 3rd quarter. Two Sigma Investments LP now owns 170,933 shares of the business services provider’s stock worth $1,591,000 after purchasing an additional 66,623 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Everspin Tech by 426.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 137,687 shares of the business services provider’s stock worth $1,282,000 after purchasing an additional 111,542 shares during the last quarter. Marshall Wace LLP purchased a new position in Everspin Tech during the 2nd quarter worth $716,000. Finally, Qube Research & Technologies Ltd grew its position 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 purchasing an additional 30,244 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRAM has been the topic of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC raised their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.50.

Everspin Tech Stock Performance

Shares of Everspin Tech stock opened at $32.45 on Friday. Everspin Tech has a 1 year low of $5.49 and a 1 year high of $51.50. The company has a market capitalization of $760.95 million, a P/E ratio of 3,248.25 and a beta of 1.75. The company’s fifty day moving average is $16.27 and its two-hundred day moving average is $12.40.

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

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 28,459 shares of Everspin Tech stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $19.58, for a total value of $557,227.22. Following the sale, the chief executive officer owned 819,422 shares of the company’s stock, valued at $16,044,282.76. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glen Hawk sold 48,563 shares of Everspin Tech stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $37.95, for a total transaction of $1,842,965.85. Following the completion of the sale, the director directly owned 39,551 shares in the company, valued at approximately $1,500,960.45. The trade was a 55.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 176,499 shares of company stock valued at $5,032,220. Corporate insiders own 6.30% of the company’s stock.

Everspin Tech Profile

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.