Everspin Technologies (MRAM) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Everspin Technologies (NASDAQ:MRAM) announced its quarterly earnings data on Thursday. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03, Briefing.com reports. The company had revenue of $12.30 million for the quarter, compared to analysts’ expectations of $12.00 million. Everspin Technologies had a negative net margin of 37.90% and a negative return on equity of 67.47%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. Everspin Technologies updated its Q1 2019 guidance to $-0.28–0.24 EPS and its Q1 guidance to (-0.28)-(-0.24) EPS.

Shares of MRAM traded up $0.13 during midday trading on Friday, hitting $8.52. The stock had a trading volume of 4,516 shares, compared to its average volume of 75,942. Everspin Technologies has a fifty-two week low of $5.30 and a fifty-two week high of $11.20. The stock has a market cap of $143.42 million, a price-to-earnings ratio of -5.03 and a beta of 2.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.95 and a quick ratio of 2.36.

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $61,000. Bank of New York Mellon Corp acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $80,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $80,000. Salem Investment Counselors Inc. acquired a new stake in shares of Everspin Technologies during the third quarter worth approximately $147,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Everspin Technologies during the third quarter worth approximately $149,000. Institutional investors own 40.62% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Everspin Technologies in a research note on Wednesday, February 20th. ValuEngine upgraded shares of Everspin Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Everspin Technologies has a consensus rating of “Buy” and an average target price of $11.83.

TRADEMARK VIOLATION NOTICE: This article was first published by WKRB News and is owned by of WKRB News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.wkrb13.com/2019/03/15/everspin-technologies-mram-posts-quarterly-earnings-results-beats-estimates-by-0-03-eps.html.

About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

Featured Article: Google Finance Portfolio

Earnings History for Everspin Technologies (NASDAQ:MRAM)

Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.