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

Key Points

• Stock jumped 12.2% to $21.38 on Wednesday, with ~1.82 million shares traded—an 88% increase versus average volume.
• Analysts are mixed: the consensus rating is Hold with an average price target of $18.50, while Needham upgraded to a buy with an $18.50 target and Weiss maintains a sell.
• Everspin reported $0.11 EPS and $14.87M revenue (a slight beat) and set Q2 guidance of $0.00–$0.03 EPS; CEO Sanjeev Aggarwal recently sold 28,459 shares and insiders have offloaded 49,448 shares in the last 90 days.

Everspin Tech (NASDAQ:MRAM - Get Free Report) traded up 12.2% on Wednesday . The stock traded as high as $21.20 and last traded at $21.3830. 1,817,987 shares traded hands during trading, an increase of 88% from the average session volume of 965,321 shares. The stock had previously closed at $19.05.

Analyst Upgrades and Downgrades

MRAM has been the subject of a number of research reports. Wall Street Zen cut Everspin Tech from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Needham & Company LLC lifted their price objective on Everspin Tech from $14.00 to $18.50 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Everspin Tech in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $18.50.

Everspin Tech Price Performance

The company has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $10.47. The company has a market capitalization of $505.58 million, a P/E ratio of 2,158.16 and a beta of 1.75.

Everspin Tech (NASDAQ:MRAM - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $14.60 million. 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 business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $19.58, for a total value of $557,227.22. Following the completion of the sale, the chief executive officer directly owned 819,422 shares in the company, valued at approximately $16,044,282.76. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 49,448 shares of company stock valued at $750,326 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everspin Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Herald Investment Management Ltd grew its position in shares of 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 purchasing an additional 125,000 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Everspin Tech by 4.6% in 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 last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Everspin Tech in the fourth quarter valued at about $2,204,000. Geode Capital Management LLC grew its position in shares of Everspin Tech by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider's stock valued at $2,054,000 after purchasing an additional 8,618 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of 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 purchasing an additional 133,560 shares during the last quarter. 44.68% of the stock is 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.

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