Everspin Tech (NASDAQ:MRAM) Given New $19.00 Price Target at Needham & Company LLC

Everspin Tech (NASDAQ:MRAM) had its price objective raised by Needham & Company LLC from $18.50 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 17.72% from the company’s current price.

Separately, Weiss Ratings lowered shares of Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Everspin Tech Stock Down 7.3%

Shares of NASDAQ:MRAM opened at $16.14 on Thursday. The business’s 50 day moving average is $20.82 and its 200 day moving average is $17.11. Everspin Tech has a 12-month low of $5.76 and a 12-month high of $51.50. The stock has a market cap of $378.48 million, a price-to-earnings ratio of 1,615.62 and a beta of 1.94.

Everspin Tech (NASDAQ:MRAM) last released its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.14. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The business had revenue of $18.74 million during the quarter, compared to analyst estimates of $17.30 million. Everspin Tech has set its Q3 2026 guidance at 0.100-0.150 EPS.

Insider Transactions at Everspin Tech

In other news, Director Glen Hawk sold 48,563 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $37.95, for a total value of $1,842,965.85. Following the completion of the transaction, the director directly owned 39,551 shares of the company’s stock, valued at $1,500,960.45. This represents a 55.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Darin G. Billerbeck sold 30,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.16, for a total value of $1,114,800.00. Following the sale, the director directly owned 124,073 shares of the company’s stock, valued at $4,610,552.68. The trade was a 19.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 148,843 shares of company stock worth $4,775,218. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Everspin Tech

Several large investors have recently made changes to their positions in MRAM. Dimensional Fund Advisors LP increased its position in shares of Everspin Tech by 13.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 46,929 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Everspin Tech by 27.9% in the 1st quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock worth $2,939,000 after buying an additional 73,000 shares during the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Everspin Tech during the fourth quarter valued at about $2,204,000. Geode Capital Management LLC grew its position in Everspin Tech by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider’s stock valued at $2,054,000 after buying an additional 8,618 shares during the period. Finally, Bank of America Corp DE increased its holdings in Everspin Tech by 783.4% during the first quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after buying an additional 194,617 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Tech Company 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.