Herald Investment Management Ltd Increases Position in Everspin Tech $MRAM

Herald Investment Management Ltd grew its position in Everspin Tech (NASDAQ:MRAM) by 18.5% during the third quarter, Holdings Channel.com reports. The firm owned 800,000 shares of the business services provider’s stock after acquiring an additional 125,000 shares during the period. Everspin Tech accounts for approximately 1.0% of Herald Investment Management Ltd’s holdings, making the stock its 26th largest position. Herald Investment Management Ltd’s holdings in Everspin Tech were worth $7,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Everspin Tech by 55.1% in the first quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after buying an additional 13,086 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Everspin Tech in the 2nd quarter valued at about $428,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Everspin Tech during the 2nd quarter worth about $164,000. Marshall Wace LLP acquired a new stake in shares of Everspin Tech during the 2nd quarter worth about $716,000. Finally, Jump Financial LLC purchased a new stake in Everspin Tech during the second quarter worth approximately $159,000. Institutional investors and hedge funds own 44.68% of the company’s stock.

Insider Buying and Selling

In other Everspin Tech news, CFO William Earl Cooper sold 6,807 shares of Everspin Tech stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $12.06, for a total value of $82,092.42. Following the transaction, the chief financial officer directly owned 93,193 shares in the company, valued at approximately $1,123,907.58. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Everspin Tech Trading Up 0.6%

Shares of NASDAQ MRAM opened at $11.03 on Friday. Everspin Tech has a twelve month low of $4.34 and a twelve month high of $17.24. The stock has a 50 day moving average of $11.11 and a two-hundred day moving average of $9.25. The stock has a market cap of $252.15 million, a P/E ratio of -367.67 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRAM. Needham & Company LLC increased their price target on shares of Everspin Tech from $8.00 to $10.50 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

Everspin Tech 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.