Sanjeev Aggarwal Sells 35,142 Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 35,142 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $5.37, for a total value of $188,712.54. Following the sale, the chief executive officer now directly owns 654,828 shares in the company, valued at $3,516,426.36. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Everspin Technologies Price Performance

MRAM opened at $5.25 on Thursday. The firm has a fifty day moving average price of $5.97 and a 200 day moving average price of $6.00. Everspin Technologies, Inc. has a 1 year low of $4.89 and a 1 year high of $8.66. The stock has a market cap of $116.24 million, a P/E ratio of 87.50 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The firm had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On Everspin Technologies

Hedge funds have recently bought and sold shares of the business. Herald Investment Management Ltd increased its position in shares of Everspin Technologies by 20.0% in the fourth quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider’s stock valued at $3,822,000 after buying an additional 100,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Everspin Technologies by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 428,480 shares of the business services provider’s stock valued at $2,739,000 after acquiring an additional 15,601 shares during the period. Dimensional Fund Advisors LP increased its holdings in Everspin Technologies by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider’s stock worth $2,675,000 after acquiring an additional 16,032 shares in the last quarter. State Street Corp raised its position in Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after acquiring an additional 3,298 shares during the period. Finally, Northern Trust Corp lifted its holdings in Everspin Technologies by 4.0% during the fourth quarter. Northern Trust Corp now owns 157,460 shares of the business services provider’s stock valued at $1,006,000 after purchasing an additional 6,127 shares in the last quarter. Hedge funds and other 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.