Everspin Technologies (NASDAQ:MRAM) Now Covered by Needham & Company LLC

Equities research analysts at Needham & Company LLC began coverage on shares of Everspin Technologies (NASDAQ:MRAM - Get Free Report) in a research report issued on Thursday. The firm set a "buy" rating on the business services provider's stock.

Separately, StockNews.com cut shares of Everspin Technologies from a "buy" rating to a "hold" rating in a report on Friday, February 28th.

Everspin Technologies Price Performance

MRAM stock traded down $0.10 during trading on Thursday, reaching $5.64. 19,092 shares of the company were exchanged, compared to its average volume of 120,929. Everspin Technologies has a twelve month low of $4.34 and a twelve month high of $7.00. The company has a market capitalization of $125.95 million, a price-to-earnings ratio of 93.92 and a beta of 0.62. The company has a 50-day moving average of $5.18 and a two-hundred day moving average of $5.83.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%.

Insider Activity at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 16,845 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $5.00, for a total value of $84,225.00. Following the sale, the chief executive officer now directly owns 637,983 shares of the company's stock, valued at approximately $3,189,915. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 54,422 shares of company stock worth $285,429. Company insiders own 6.90% of the company's stock.

Institutional Investors Weigh In On Everspin Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Herald Investment Management Ltd grew its stake in shares of Everspin Technologies by 20.0% during the fourth quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider's stock valued at $3,822,000 after buying an additional 100,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Everspin Technologies by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 428,480 shares of the business services provider's stock valued at $2,739,000 after purchasing an additional 15,601 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Everspin Technologies by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider's stock valued at $2,675,000 after buying an additional 16,032 shares during the last quarter. State Street Corp boosted its stake in Everspin Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider's stock worth $1,294,000 after purchasing an additional 3,298 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Everspin Technologies by 4.0% during the fourth quarter. Northern Trust Corp now owns 157,460 shares of the business services provider's stock valued at $1,006,000 after buying an additional 6,127 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Technologies Company Profile

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.