Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Here’s Why

Shares of Everspin Tech (NASDAQ:MRAM) gapped up before the market opened on Monday . The stock had previously closed at $24.41, but opened at $26.82. Everspin Tech shares last traded at $26.8780, with a volume of 613,749 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Needham & Company LLC boosted their target price on Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Friday, March 27th. One investment 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 an average rating of “Hold” and an average target price of $18.50.

Everspin Tech Stock Down 6.1%

The company has a market capitalization of $613.45 million, a P/E ratio of 2,618.62 and a beta of 1.87. The business has a fifty day moving average price of $23.03 and a 200 day moving average price of $14.84.

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

Insider Activity at Everspin Tech

In related news, Director Glen Hawk sold 48,563 shares of the stock in a transaction 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 in the company, valued at approximately $1,500,960.45. This represents a 55.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Geoffrey G. Ribar sold 27,488 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total transaction of $793,578.56. Following the transaction, the director owned 94,063 shares of the company’s stock, valued at $2,715,598.81. The trade was a 22.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 176,499 shares of company stock worth $5,032,220. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everspin Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Everspin Tech by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after acquiring an additional 46,929 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Everspin Tech by 27.9% during the first quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock worth $2,939,000 after acquiring an additional 73,000 shares in the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in Everspin Tech during the fourth quarter valued at approximately $2,204,000. Geode Capital Management LLC boosted its position 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 valued at $2,054,000 after purchasing an additional 8,618 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Everspin Tech by 783.4% in the first quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock valued at $1,929,000 after purchasing an additional 194,617 shares in the last quarter. 44.68% of the stock is 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.