Everspin Technologies’ (NASDAQ:MRAM) quiet period is set to end on Wednesday, November 16th. Everspin Technologies had issued 5,000,000 shares in its initial public offering on October 7th. The total size of the offering was $40,000,000 based on an initial share price of $8.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

MRAM has been the topic of several analyst reports. Needham & Company LLC initiated coverage on Everspin Technologies in a research report on Wednesday, November 2nd. They issued a “strong-buy” rating and a $10.00 price objective on the stock. Stifel Nicolaus initiated coverage on Everspin Technologies in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $11.00 price objective on the stock. Craig Hallum assumed coverage on Everspin Technologies in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on Everspin Technologies in a report on Wednesday, November 2nd. They set a “buy” rating and a $12.00 price target on the stock.

In related news, major shareholder Nvpg Iv, Llc acquired 250,000 shares of Everspin Technologies stock in a transaction on Thursday, October 13th. The shares were bought at an average cost of $8.00 per share, with a total value of $2,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Hebert acquired 137,420 shares of Everspin Technologies stock in a transaction on Thursday, October 13th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $1,099,360.00. The disclosure for this purchase can be found here.

Everspin Technologies Company Profile

Everspin Technologies, Inc is a United States-based company engaged in designing, manufacturing and shipping discrete and embedded magnetoresistive random-access memory (MRAM) and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface, Quad Serial Peripheral Interface and DDR3 Spin-Torque MRAM.

5 Day Chart for NASDAQ:MRAM

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