Equities researchers at StockNews.com began coverage on shares of Everspin Technologies (NASDAQ:MRAM – Get Free Report) in a report issued on Thursday. The brokerage set a “buy” rating on the business services provider’s stock.
A number of other equities research analysts also recently issued reports on the company. TheStreet upgraded Everspin Technologies from a “c+” rating to a “b” rating in a research note on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Everspin Technologies in a research report on Thursday, August 3rd. Finally, Craig Hallum lifted their price objective on Everspin Technologies from $10.00 to $12.00 in a research report on Friday, June 30th.
Get Our Latest Analysis on Everspin Technologies
Everspin Technologies Stock Performance
Everspin Technologies (NASDAQ:MRAM – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.03 by $0.15. Everspin Technologies had a return on equity of 17.69% and a net margin of 11.65%. The company had revenue of $15.75 million during the quarter.
Insider Buying and Selling
In other news, CEO Sanjeev Aggarwal sold 7,961 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $9.62, for a total transaction of $76,584.82. Following the sale, the chief executive officer now directly owns 215,998 shares of the company’s stock, valued at approximately $2,077,900.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 7,961 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $9.62, for a total value of $76,584.82. Following the transaction, the chief executive officer now owns 215,998 shares of the company’s stock, valued at approximately $2,077,900.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anuj Aggarwal sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $9.91, for a total value of $89,190.00. Following the completion of the transaction, the chief financial officer now directly owns 206,427 shares in the company, valued at approximately $2,045,691.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,033 shares of company stock valued at $900,261. Corporate insiders own 5.00% of the company’s stock.
Hedge Funds Weigh In On Everspin Technologies
Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Everspin Technologies by 32,978.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,631 shares of the business services provider’s stock worth $26,000 after buying an additional 4,617 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Everspin Technologies during the 2nd quarter worth $55,000. Commonwealth Equity Services LLC bought a new position in shares of Everspin Technologies during the 3rd quarter worth $58,000. Man Group plc grew its position in shares of Everspin Technologies by 17.2% during the 4th quarter. Man Group plc now owns 14,997 shares of the business services provider’s stock worth $83,000 after buying an additional 2,200 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Everspin Technologies during the 1st quarter worth $85,000. Institutional investors own 42.72% of the company’s stock.
About Everspin Technologies
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, Germany, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.
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