Everspin Tech (NASDAQ:MRAM) Trading 8.5% Higher – Here’s What Happened

Everspin Tech (NASDAQ:MRAM)’s share price traded up 8.5% during mid-day trading on Monday . The stock traded as high as $28.00 and last traded at $28.6220. 988,671 shares traded hands during trading, a decline of 52% from the average session volume of 2,055,082 shares. The stock had previously closed at $26.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MRAM shares. Wall Street Zen cut shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Needham & Company LLC boosted their price target on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.50.

Everspin Tech Price Performance

The firm’s 50-day moving average is $19.35 and its two-hundred day moving average is $13.47. The company has a market cap of $706.08 million, a P/E ratio of 3,014.01 and a beta of 1.87.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The company had revenue of $14.87 million for the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Activity at Everspin Tech

In other Everspin Tech news, Director Geoffrey G. Ribar sold 27,488 shares of Everspin Tech stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.87, for a total transaction of $793,578.56. Following the completion of the transaction, the director directly owned 94,063 shares of the company’s stock, valued at $2,715,598.81. The trade was a 22.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Darin G. Billerbeck sold 30,000 shares of Everspin Tech stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.16, for a total transaction of $1,114,800.00. Following the transaction, the director directly owned 124,073 shares of the company’s stock, valued at $4,610,552.68. The trade was a 19.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 176,499 shares of company stock valued at $5,032,220 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Everspin Tech during the second quarter worth $25,000. Kestra Advisory Services LLC purchased a new position in Everspin Tech during the fourth quarter worth $41,000. State Street Corp boosted its stake in Everspin Tech by 5.7% during the fourth quarter. State Street Corp now owns 85,288 shares of the business services provider’s stock worth $791,000 after buying an additional 4,600 shares during the period. Bank of America Corp DE boosted its stake in Everspin Tech by 28.6% during the second quarter. Bank of America Corp DE now owns 27,150 shares of the business services provider’s stock worth $171,000 after buying an additional 6,041 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Everspin Tech by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider’s stock worth $2,054,000 after buying an additional 8,618 shares during the period. 44.68% of the stock is owned by hedge funds and other institutional investors.

About Everspin Tech

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.