Everspin Tech (NASDAQ:MRAM) CFO Sells $59,434.20 in Stock

Key Points

• Everspin Technologies CFO William Cooper sold 3,115 shares at an average price of $19.08, generating $59,434.20. He retains 154,626 shares valued at approximately $2.95 million.
• MRAM shares fell 3.2% to $18.22 during Monday trading, with the company valued at approximately $443.7 million. Institutional investors own 44.68% of the stock.
• Analyst sentiment is mixed, with one Buy and one Sell rating; MarketBeat reports a consensus rating of Hold and a $19.00 price target.

Everspin Tech (NASDAQ:MRAM - Get Free Report) CFO William Cooper sold 3,115 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $19.08, for a total transaction of $59,434.20. Following the completion of the transaction, the chief financial officer owned 154,626 shares in the company, valued at approximately $2,950,264.08. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Everspin Tech Trading Down 3.2%

MRAM stock traded down $0.61 during midday trading on Monday, reaching $18.22. The company had a trading volume of 786,550 shares, compared to its average volume of 1,766,300. The company has a 50 day moving average of $16.59 and a two-hundred day moving average of $18.72. The company has a market capitalization of $443.66 million, a P/E ratio of -165.62 and a beta of 1.88. Everspin Tech has a 1 year low of $7.35 and a 1 year high of $51.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MRAM. Bank of America Corp DE lifted its stake in shares of Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider's stock valued at $1,929,000 after purchasing an additional 194,617 shares during the last quarter. 683 Capital Management LLC acquired a new position in Everspin Tech during the fourth quarter worth $1,020,000. Renaissance Technologies LLC raised its holdings in Everspin Tech by 27.9% during the first quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider's stock valued at $2,939,000 after buying an additional 73,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Everspin Tech by 13.0% during the first quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider's stock valued at $3,594,000 after buying an additional 46,929 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Everspin Tech in the first quarter worth about $189,000. Institutional investors own 44.68% of the company's stock.

Wall Street Analysts Forecast Growth

MRAM has been the topic of a number of recent research reports. Weiss Ratings downgraded Everspin Tech from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. Needham & Company LLC raised their price target on Everspin Tech from $18.50 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.00.

Everspin Tech Company Profile

Everspin Technologies, Inc develops and supplies magnetic random-access memory (MRAM) products for applications that require persistent data storage, fast access, high endurance and reliable operation. Unlike conventional volatile memory, MRAM retains data when power is removed, making it suitable for systems that need rapid recovery and data protection.

The company's product portfolio includes parallel and serial-peripheral-interface (SPI) MRAM, Toggle MRAM and spin-transfer torque (STT-MRAM) products.

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