Everspin Technologies (NASDAQ:MRAM) Price Target Cut to $10.00

Everspin Technologies (NASDAQ:MRAM) had its price objective trimmed by Craig Hallum from $11.00 to $10.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, Needham & Company LLC cut their target price on shares of Everspin Technologies from $12.00 to $8.00 and set a buy rating on the stock in a report on Thursday.

Everspin Technologies Price Performance

Shares of MRAM stock traded down $0.04 during trading hours on Thursday, reaching $6.35. 162,828 shares of the company were exchanged, compared to its average volume of 100,365. Everspin Technologies has a fifty-two week low of $6.11 and a fifty-two week high of $10.50. The stock’s fifty day moving average is $7.88 and its two-hundred day moving average is $8.53. The company has a market cap of $136.65 million, a price-to-earnings ratio of 17.27 and a beta of 0.99.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Everspin Technologies had a net margin of 12.77% and a return on equity of 15.70%. The business had revenue of $14.43 million during the quarter. During the same quarter in the prior year, the company earned $0.04 EPS.

Insider Transactions at Everspin Technologies

In related news, VP David Schrenk sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $8.03, for a total value of $40,150.00. Following the completion of the transaction, the vice president now owns 115,767 shares of the company’s stock, valued at $929,609.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Anuj Aggarwal sold 20,000 shares of Everspin Technologies stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the sale, the chief financial officer now owns 302,824 shares of the company’s stock, valued at approximately $2,486,185.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Schrenk sold 5,000 shares of Everspin Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $8.03, for a total transaction of $40,150.00. Following the sale, the vice president now directly owns 115,767 shares of the company’s stock, valued at approximately $929,609.01. The disclosure for this sale can be found here. Insiders sold 72,968 shares of company stock valued at $590,033 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

A number of institutional investors have recently bought and sold shares of MRAM. GSA Capital Partners LLP lifted its holdings in shares of Everspin Technologies by 4.1% during the 1st quarter. GSA Capital Partners LLP now owns 70,840 shares of the business services provider’s stock worth $561,000 after acquiring an additional 2,764 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Everspin Technologies by 12.4% in the 3rd quarter. Quadrature Capital Ltd now owns 31,255 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 3,453 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Everspin Technologies in the 4th quarter valued at $32,000. Truvestments Capital LLC boosted its stake in Everspin Technologies by 14.8% during the third quarter. Truvestments Capital LLC now owns 35,720 shares of the business services provider’s stock worth $351,000 after acquiring an additional 4,609 shares in the last quarter. Finally, AJOVista LLC bought a new position in Everspin Technologies during the fourth quarter worth $43,000. Institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.