Zacks: Analysts Set $14.75 Price Target for Everspin Technologies Inc (MRAM)

Shares of Everspin Technologies Inc (NASDAQ:MRAM) have earned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $14.75 for the company and are predicting that the company will post ($0.34) earnings per share for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 179 out of 255 based on the ratings given to its competitors.

Several equities analysts have recently commented on MRAM shares. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Everspin Technologies in a research report on Thursday. TheStreet upgraded shares of Everspin Technologies from a “d” rating to a “c-” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th.

In related news, VP Thomas Andre sold 4,807 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $8.58, for a total transaction of $41,244.06. Following the completion of the transaction, the vice president now directly owns 13,551 shares in the company, valued at approximately $116,267.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in MRAM. Handelsbanken Fonder AB acquired a new position in Everspin Technologies in the 1st quarter valued at approximately $3,662,000. Employees Retirement System of Texas boosted its stake in shares of Everspin Technologies by 50.0% in the 1st quarter. Employees Retirement System of Texas now owns 294,000 shares of the business services provider’s stock valued at $2,220,000 after purchasing an additional 98,000 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Everspin Technologies by 14.2% in the 1st quarter. Royal Bank of Canada now owns 226,916 shares of the business services provider’s stock valued at $1,713,000 after purchasing an additional 28,166 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Everspin Technologies by 6.1% in the 2nd quarter. BlackRock Inc. now owns 182,481 shares of the business services provider’s stock valued at $1,628,000 after purchasing an additional 10,444 shares during the last quarter. Finally, Unterberg Capital LLC bought a new stake in shares of Everspin Technologies in the 1st quarter valued at $1,047,000. Institutional investors and hedge funds own 34.17% of the company’s stock.

Everspin Technologies traded down $0.28, reaching $8.99, during trading on Friday, according to Marketbeat. The company’s stock had a trading volume of 165,125 shares, compared to its average volume of 110,425. The company has a quick ratio of 3.24, a current ratio of 3.89 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $154.57 million, a P/E ratio of -5.32 and a beta of 2.86. Everspin Technologies has a 12 month low of $6.40 and a 12 month high of $19.25.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, August 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.02. The firm had revenue of $10.80 million during the quarter, compared to the consensus estimate of $11.10 million. Everspin Technologies had a negative net margin of 39.62% and a negative return on equity of 86.22%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. equities analysts expect that Everspin Technologies will post -1.13 EPS for the current year.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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