Everspin Tech (NASDAQ:MRAM) Stock Price Down 9.7% on Insider Selling

Shares of Everspin Tech (NASDAQ:MRAM) were down 9.7% during trading on Monday following insider selling activity. The stock traded as low as $33.33 and last traded at $33.9250. Approximately 1,383,055 shares were traded during trading, a decline of 21% from the average daily volume of 1,740,673 shares. The stock had previously closed at $37.57.

Specifically, Director Glen Hawk sold 48,563 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.95, for a total transaction of $1,842,965.85. Following the completion of the transaction, the director owned 39,551 shares of the company’s stock, valued at approximately $1,500,960.45. The trade was a 55.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Darin G. Billerbeck sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 124,073 shares of the company’s stock, valued at approximately $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.

Analysts Set New Price Targets

MRAM has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen cut Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Needham & Company LLC raised their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Everspin Tech Price Performance

The company’s 50 day moving average price is $14.47 and its 200 day moving average price is $11.81. The firm has a market capitalization of $755.96 million, a P/E ratio of 3,273.47 and a beta of 1.75.

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

Hedge Funds Weigh In On Everspin Tech

Large investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Everspin Tech by 55.1% in the first quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock worth $188,000 after purchasing an additional 13,086 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Everspin Tech during the 2nd quarter worth about $164,000. Marshall Wace LLP acquired a new position in Everspin Tech during the second quarter worth about $716,000. Jump Financial LLC purchased a new stake in Everspin Tech in the 2nd quarter valued at about $159,000. Finally, Qube Research & Technologies Ltd grew its stake in Everspin Tech by 41.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider’s stock worth $650,000 after purchasing an additional 30,244 shares in the last quarter. 44.68% of the stock is currently owned by 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.