AWM Investment Company Inc. Trims Stake in Everspin Tech (MRAM)
AWM Investment Company Inc. reduced its stake in shares of Everspin Tech (NASDAQ:MRAM) by 5.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 755,954 shares of the business services provider’s stock after selling 40,896 shares during the period. Everspin Tech comprises 2.5% of AWM Investment Company Inc.’s investment portfolio, making the stock its 12th biggest position. AWM Investment Company Inc. owned approximately 5.96% of Everspin Tech worth $15,104,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in MRAM. Royce & Associates LP bought a new position in shares of Everspin Tech during the 2nd quarter valued at approximately $2,833,000. Vanguard Group Inc. grew its position in shares of Everspin Tech by 248.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after acquiring an additional 98,963 shares during the period. EAM Investors LLC bought a new position in shares of Everspin Tech during the 2nd quarter valued at approximately $780,000. Bamco Inc. NY grew its position in shares of Everspin Tech by 15.5% during the 2nd quarter. Bamco Inc. NY now owns 202,725 shares of the business services provider’s stock valued at $4,050,000 after acquiring an additional 27,183 shares during the period. Finally, Stifel Financial Corp bought a new position in shares of Everspin Tech during the 2nd quarter valued at approximately $525,000. 28.91% of the stock is owned by hedge funds and other institutional investors.
Everspin Tech (MRAM) traded up 5.19% on Friday, reaching $11.36. 49,386 shares of the company traded hands. The stock’s market capitalization is $143.98 million. The stock’s 50-day moving average is $14.90 and its 200-day moving average is $14.90. Everspin Tech has a 1-year low of $6.25 and a 1-year high of $25.39.
Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The business had revenue of $8.93 million for the quarter, compared to analyst estimates of $8.75 million. Equities research analysts expect that Everspin Tech will post ($1.73) EPS for the current year.
Several research analysts recently commented on MRAM shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price objective (down from $19.00) on shares of Everspin Tech in a report on Friday, August 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price objective (up from $12.00) on shares of Everspin Tech in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Everspin Tech from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Everspin Tech in a report on Monday, August 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.50.
About Everspin Tech
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded 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 (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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