Needham & Company LLC Boosts Everspin Tech (NASDAQ:MRAM) Price Target to $18.50

Key Points

• Needham & Company raised its price target on Everspin Tech from $14.00 to $18.50 and maintained a "buy" rating, indicating roughly a 40% upside from the prior close.
• Quarterly results modestly beat expectations: Everspin reported EPS of $0.11 vs. $0.09 expected and revenue of $14.87M vs. $14.60M, but the company still shows negative profitability metrics and guided Q2 EPS to a range of $0.000–$0.030.
• Analyst sentiment is mixed—MarketBeat shows a consensus "Hold" (one Buy, one Sell) with a consensus target of $18.50—and the CEO recently sold 19,440 shares, while insiders own about 6.3% of the stock.

Everspin Tech (NASDAQ:MRAM - Get Free Report) had its price objective increased by equities research analysts at Needham & Company LLC from $14.00 to $18.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Needham & Company LLC's price target would indicate a potential upside of 40.26% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Everspin Tech from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Everspin Tech in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.50.

Everspin Tech Price Performance

Everspin Tech stock opened at $13.19 on Thursday. The business has a 50 day moving average of $10.45 and a 200-day moving average of $10.38. Everspin Tech has a 1 year low of $5.15 and a 1 year high of $17.24. The company has a market capitalization of $307.20 million, a P/E ratio of -439.67 and a beta of 0.94.

Everspin Tech (NASDAQ:MRAM - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Everspin Tech had a negative return on equity of 0.90% and a negative net margin of 1.06%.The company had revenue of $14.87 million during the quarter, compared to the consensus estimate of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Activity

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 19,440 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $9.20, for a total transaction of $178,848.00. Following the transaction, the chief executive officer directly owned 847,881 shares in the company, valued at approximately $7,800,505.20. This represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Everspin Tech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in shares of Everspin Tech by 55.1% in the 1st quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider's stock worth $188,000 after purchasing an additional 13,086 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Everspin Tech in the 2nd quarter worth $164,000. Marshall Wace LLP bought a new position in shares of Everspin Tech in the 2nd quarter worth $716,000. Jump Financial LLC bought a new position in shares of Everspin Tech in the 2nd quarter worth $159,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Everspin Tech by 41.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider's stock worth $650,000 after purchasing an additional 30,244 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors.

Everspin Tech Company Profile

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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