Key Points
- Director Glen Hawk sold 48,563 shares of Everspin Tech on May 15 at an average price of $37.95, totaling about $1.84 million. After the transaction, he still owned 39,551 shares.
- The stock fell 7.5% as shares opened at $37.57, despite trading near its 52-week high of $51.50. Everspin’s market cap was about $881 million.
- Recent earnings beat expectations modestly, with Q1 EPS of $0.11 and revenue of $14.87 million versus estimates of $14.60 million. Analysts currently have an average Hold rating with a $18.50 price target.
Everspin Tech (NASDAQ:MRAM - Get Free Report) Director Glen Hawk sold 48,563 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.95, for a total value of $1,842,965.85. Following the sale, the director owned 39,551 shares in the company, valued at $1,500,960.45. The trade was a 55.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Everspin Tech Stock Down 7.5%
Shares of NASDAQ MRAM opened at $37.57 on Friday. The stock's 50 day moving average price is $14.47 and its two-hundred day moving average price is $11.80. Everspin Tech has a 52-week low of $5.49 and a 52-week high of $51.50. The stock has a market capitalization of $881.02 million, a P/E ratio of 3,760.76 and a beta of 1.75.
Everspin Tech (NASDAQ:MRAM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 earnings per share (EPS) for the quarter. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The firm 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 Trading of Everspin Tech
Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Everspin Tech in the 2nd quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new stake in Everspin Tech in the 4th quarter valued at approximately $41,000. Occudo Quantitative Strategies LP acquired a new stake in Everspin Tech in the 2nd quarter valued at approximately $70,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Everspin Tech in the 3rd quarter valued at approximately $82,000. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in Everspin Tech in the 1st quarter valued at approximately $99,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Everspin Tech from $14.00 to $18.50 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Everspin Tech in a research report on Friday, March 27th. Finally, Wall Street Zen cut Everspin Tech from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.50.
Read Our Latest Analysis on Everspin Tech
About Everspin Tech
(
Get Free Report)
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.
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