Arrowstreet Capital Limited Partnership Lowers Position in Everspin Tech $MRAM

Key Points

• Arrowstreet Capital cut its Everspin Tech stake by 25.3% in the first quarter, selling 65,084 shares and retaining 192,328 shares worth about $1.69 million. Institutional investors collectively own 44.68% of MRAM.
• Analyst sentiment is mixed: Needham raised its price target to $18.50 and maintained a Buy rating, while Weiss Ratings downgraded the stock to Sell. MarketBeat’s consensus rating is Hold.
• Everspin reported quarterly EPS of $0.11, beating expectations of a $0.03 loss, while revenue of $18.74 million exceeded forecasts. However, the stock opened at $16.14, down 7.3%, and company insiders sold 148,843 shares worth approximately $4.78 million during the latest quarter.

Arrowstreet Capital Limited Partnership lessened its stake in Everspin Tech (NASDAQ:MRAM - Free Report) by 25.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,328 shares of the business services provider's stock after selling 65,084 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.82% of Everspin Tech worth $1,691,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Everspin Tech by 13.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider's stock valued at $3,594,000 after acquiring an additional 46,929 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Everspin Tech by 4.6% during 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 in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in Everspin Tech in the 4th quarter worth about $2,204,000. Geode Capital Management LLC grew its position in Everspin Tech by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider's stock worth $2,054,000 after purchasing an additional 8,618 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Everspin Tech by 265.0% in the 4th quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider's stock valued at $1,707,000 after buying an additional 133,560 shares during the last quarter. Hedge funds and other institutional investors own 44.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MRAM shares. Weiss Ratings downgraded Everspin Tech from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 28th. Needham & Company LLC increased their price target on Everspin Tech from $14.00 to $18.50 and gave the company a "buy" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $18.50.

Everspin Tech Stock Down 7.3%

MRAM opened at $16.14 on Thursday. The stock has a market cap of $378.48 million, a price-to-earnings ratio of 1,615.62 and a beta of 1.94. Everspin Tech has a twelve month low of $5.76 and a twelve month high of $51.50. The company's 50-day moving average price is $20.82 and its two-hundred day moving average price is $17.11.

Everspin Tech (NASDAQ:MRAM - Get Free Report) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.14. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The firm had revenue of $18.74 million during the quarter, compared to the consensus estimate of $17.30 million. Everspin Tech has set its Q3 2026 guidance at 0.100-0.150 EPS.

Insider Buying and Selling at Everspin Tech

In other Everspin Tech news, Director Geoffrey G. Ribar sold 27,488 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total value of $793,578.56. Following the sale, the director directly owned 94,063 shares in the company, valued at $2,715,598.81. The trade was a 22.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Darin G. Billerbeck sold 30,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.16, for a total value of $1,114,800.00. Following the transaction, the director directly owned 124,073 shares in the company, valued at $4,610,552.68. This represents a 19.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 148,843 shares of company stock valued at $4,775,218 in the last quarter. Insiders own 6.30% of the company's stock.

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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