Everspin Tech (NASDAQ:MRAM) Stock Price Down 6.2% – Here’s What Happened

Shares of Everspin Tech (NASDAQ:MRAM) were down 6.2% during mid-day trading on Wednesday . The company traded as low as $30.34 and last traded at $30.6620. Approximately 2,195,884 shares traded hands during trading, an increase of 11% from the average daily volume of 1,973,271 shares. The stock had previously closed at $32.70.

Analysts Set New Price Targets

A number of research analysts have issued reports on MRAM shares. Wall Street Zen lowered Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Finally, Needham & Company LLC boosted their price target on Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Everspin Tech Trading Down 10.7%

The stock has a 50-day simple moving average of $17.74 and a 200-day simple moving average of $12.89. The company has a market cap of $684.69 million, a price-to-earnings ratio of 2,922.12 and a beta of 1.75.

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

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 28,459 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $19.58, for a total value of $557,227.22. Following the completion of the sale, the chief executive officer owned 819,422 shares in the company, valued at $16,044,282.76. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Geoffrey G. Ribar sold 27,488 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.87, for a total value of $793,578.56. Following the completion of the sale, the director owned 94,063 shares of the company’s stock, valued at approximately $2,715,598.81. This trade represents a 22.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 176,499 shares of company stock valued at $5,032,220. 6.30% of the stock is currently owned by insiders.

Institutional Trading of Everspin Tech

Several institutional investors have recently modified their holdings of the company. Herald Investment Management Ltd lifted its holdings in shares of Everspin Tech by 18.5% in the third quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock valued at $7,416,000 after buying an additional 125,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Everspin Tech by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after buying an additional 46,929 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Everspin Tech by 27.9% in the first quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock valued at $2,939,000 after buying an additional 73,000 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Everspin Tech in the fourth quarter valued at $2,204,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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. Institutional investors and hedge funds own 44.68% of the company’s stock.

Everspin Tech Company 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.