Everspin Tech (NASDAQ:MRAM) Shares Down 9.7% Following Insider Selling

Everspin Tech (NASDAQ:MRAM) dropped 9.7% on Monday after an insider sold shares in the company. The stock traded as low as $33.33 and last traded at $33.9250. Approximately 1,383,055 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 1,740,673 shares. The stock had previously closed at $37.57.

Specifically, 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 transaction of $1,842,965.85. Following the sale, the director owned 39,551 shares in the company, valued at $1,500,960.45. This represents a 55.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Darin G. Billerbeck sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.16, for a total transaction of $1,114,800.00. Following the transaction, the director owned 124,073 shares in the company, valued at $4,610,552.68. This represents a 19.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRAM shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Everspin Tech in a research note on Friday, March 27th. Wall Street Zen lowered shares of Everspin Tech from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Needham & Company LLC raised 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 analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.50.

Everspin Tech Price Performance

The company has a market capitalization of $755.96 million, a P/E ratio of 3,273.47 and a beta of 1.75. The firm’s 50-day moving average is $14.47 and its 200-day moving average is $11.81.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings data 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 business had revenue of $14.87 million for the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Institutional Investors Weigh In On Everspin Tech

Several large investors have recently modified their holdings of MRAM. Herald Investment Management Ltd raised its holdings in Everspin Tech by 18.5% in the third 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 period. Dimensional Fund Advisors LP lifted 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 worth $3,594,000 after purchasing an additional 46,929 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Everspin Tech by 27.9% during the first quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock valued at $2,939,000 after purchasing an additional 73,000 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in Everspin Tech during the fourth quarter worth $2,204,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 worth $2,054,000 after purchasing an additional 8,618 shares in the last quarter. Hedge funds and other institutional investors 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.