Herald Investment Management Ltd Acquires 100,000 Shares of Everspin Technologies, Inc. (NASDAQ:MRAM)

Herald Investment Management Ltd increased its stake in shares of Everspin Technologies, Inc. (NASDAQ:MRAM) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the business services provider’s stock after buying an additional 100,000 shares during the quarter. Herald Investment Management Ltd’s holdings in Everspin Technologies were worth $3,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after purchasing an additional 14,220 shares in the last quarter. State Street Corp raised its position in shares of Everspin Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after buying an additional 3,298 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Everspin Technologies during the 3rd quarter worth approximately $82,000. Barclays PLC boosted its position in shares of Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after purchasing an additional 1,941 shares in the last quarter. Institutional investors own 44.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Everspin Technologies Price Performance

MRAM stock opened at $5.12 on Friday. Everspin Technologies, Inc. has a 1 year low of $4.34 and a 1 year high of $7.73. The stock has a market cap of $114.44 million, a price-to-earnings ratio of 85.33 and a beta of 0.62. The company has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $5.89.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The firm had revenue of $13.20 million for the quarter, compared to the consensus estimate of $12.50 million.

Insider Activity at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 16,845 shares of Everspin Technologies stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $5.00, for a total transaction of $84,225.00. Following the transaction, the chief executive officer now owns 637,983 shares in the company, valued at approximately $3,189,915. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 54,422 shares of company stock worth $285,429 in the last quarter. 6.10% of the stock is owned by insiders.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.