Bank of America Corp DE raised its holdings in Everspin Tech (NASDAQ:MRAM - Free Report) by 783.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 219,460 shares of the business services provider's stock after acquiring an additional 194,617 shares during the period. Bank of America Corp DE owned about 0.94% of Everspin Tech worth $1,929,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MRAM. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Everspin Tech during the 4th quarter valued at $2,204,000. Jane Street Group LLC boosted its stake in shares of Everspin Tech by 265.0% during 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 in the last quarter. Marshall Wace LLP acquired a new stake in shares of Everspin Tech during the second quarter valued at about $716,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Everspin Tech by 426.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 137,687 shares of the business services provider's stock worth $1,282,000 after purchasing an additional 111,542 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new position in shares of Everspin Tech in the fourth quarter valued at approximately $1,020,000. Institutional investors and hedge funds own 44.68% of the company's stock.
Insider Buying and Selling at Everspin Tech
In other Everspin Tech news, CFO William Earl Cooper sold 1,549 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.34, for a total transaction of $34,604.66. Following the completion of the sale, the chief financial officer owned 149,481 shares in the company, valued at approximately $3,339,405.54. The trade was a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjeev Aggarwal sold 30,885 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.34, for a total transaction of $689,970.90. Following the completion of the sale, the chief executive officer directly owned 839,561 shares of the company's stock, valued at $18,755,792.74. The trade was a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 32,792 shares of company stock worth $732,573. 6.30% of the stock is owned by insiders.
Everspin Tech Stock Performance
Everspin Tech stock opened at $15.90 on Thursday. The firm has a market cap of $387.17 million, a price-to-earnings ratio of -144.53 and a beta of 1.92. Everspin Tech has a 52-week low of $6.30 and a 52-week high of $51.50. The firm has a 50 day moving average price of $17.22 and a two-hundred day moving average price of $17.72.
Analyst Ratings Changes
A number of research firms have weighed in on MRAM. Needham & Company LLC boosted their target price on shares of Everspin Tech from $18.50 to $19.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Everspin Tech from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Everspin Tech presently has an average rating of "Hold" and a consensus price target of $19.00.
Get Our Latest Stock Analysis on Everspin Tech
Everspin Tech Company Profile
(
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.
Further Reading
Want to see what other hedge funds are holding MRAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everspin Tech (NASDAQ:MRAM - Free Report).
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