Everspin Tech (NASDAQ:MRAM) Given New $19.00 Price Target at Needham & Company LLC

Everspin Tech (NASDAQ:MRAM) had its price objective upped by analysts at Needham & Company LLC from $18.50 to $19.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 17.72% from the stock’s previous close.

Separately, Weiss Ratings lowered shares of Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One equities 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.00.

Everspin Tech Price Performance

Shares of Everspin Tech stock opened at $16.14 on Thursday. The stock’s 50-day moving average is $20.82 and its 200 day moving average is $17.11. Everspin Tech has a one year low of $5.76 and a one year high of $51.50. The firm has a market cap of $378.48 million, a price-to-earnings ratio of 1,615.62 and a beta of 1.94.

Everspin Tech (NASDAQ:MRAM) last issued its earnings results on Wednesday, August 5th. The business services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.14. The business had revenue of $18.74 million during the quarter, compared to the consensus estimate of $17.30 million. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.Everspin Tech has set its Q3 2026 guidance at 0.100-0.150 EPS.

Insider Buying and Selling

In other Everspin Tech news, Director Geoffrey G. Ribar sold 27,488 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total value of $793,578.56. Following the transaction, the director owned 94,063 shares in the company, valued at approximately $2,715,598.81. This represents a 22.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjeev Aggarwal sold 30,885 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.34, for a total value of $689,970.90. Following the completion of the sale, the chief executive officer directly owned 839,561 shares of the company’s stock, valued at $18,755,792.74. This trade represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 148,843 shares of company stock worth $4,775,218 over the last 90 days. 6.30% of the stock is owned by company insiders.

Institutional Trading of Everspin Tech

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Everspin Tech during the 2nd quarter valued at $25,000. Kestra Advisory Services LLC bought a new position in shares of Everspin Tech in the fourth quarter valued at $41,000. Algert Global LLC acquired a new position in shares of Everspin Tech during the third quarter valued at about $102,000. Occudo Quantitative Strategies LP acquired a new position in shares of Everspin Tech during the second quarter valued at about $70,000. Finally, Fortitude Advisory Group L.L.C. bought a new stake in shares of Everspin Tech during the first quarter worth about $99,000. 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.