Everspin Tech (NASDAQ:MRAM) Trading Up 12.2% – Time to Buy?

Everspin Tech (NASDAQ:MRAM)’s stock price was up 12.2% during mid-day trading on Wednesday . The stock traded as high as $21.20 and last traded at $21.3830. Approximately 1,817,987 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 965,321 shares. The stock had previously closed at $19.05.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MRAM shares. Wall Street Zen downgraded Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Needham & Company LLC increased 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. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research note on Friday, March 27th. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.50.

Everspin Tech Stock Up 13.2%

The stock has a market cap of $505.58 million, a price-to-earnings ratio of 2,158.16 and a beta of 1.75. The company’s 50-day moving average is $10.76 and its 200-day moving average is $10.47.

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. The company had revenue of $14.87 million during the quarter, compared to analyst estimates 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.

Insider Buying and Selling at Everspin Tech

In other news, CEO Sanjeev Aggarwal sold 28,459 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $19.58, for a total transaction of $557,227.22. Following the completion of the sale, the chief executive officer owned 819,422 shares of the company’s stock, valued at approximately $16,044,282.76. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 49,448 shares of company stock worth $750,326 over the last three months. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Everspin Tech

A number of large investors have recently modified their holdings of the stock. Herald Investment Management Ltd lifted its position in shares of Everspin Tech by 18.5% during the third quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock worth $7,416,000 after purchasing an additional 125,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Everspin Tech by 4.6% during the fourth quarter. Renaissance Technologies LLC now owns 261,367 shares of the business services provider’s stock valued at $2,425,000 after purchasing an additional 11,600 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Everspin Tech in the 4th quarter valued at $2,204,000. Geode Capital Management LLC grew its holdings in shares of Everspin Tech by 4.1% in the 4th 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, Jane Street Group LLC lifted its stake in Everspin Tech by 265.0% in the fourth quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider’s stock valued at $1,707,000 after buying an additional 133,560 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

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.