Everspin Tech (NASDAQ:MRAM) had its price target reduced by research analysts at Needham & Company LLC from $24.00 to $17.00 in a report released on Tuesday. The firm currently has a “strong-buy” rating on the business services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 76.72% from the company’s previous close.

MRAM has been the topic of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of Everspin Tech in a report on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating and issued a $18.00 price target (up previously from $12.00) on shares of Everspin Tech in a report on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Everspin Tech from a “hold” rating to a “sell” rating in a report on Saturday.

Everspin Tech (NASDAQ:MRAM) opened at $9.62 on Tuesday. Everspin Tech has a 52-week low of $6.63 and a 52-week high of $25.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.47 and a quick ratio of 3.57.

Everspin Tech (NASDAQ:MRAM) last issued its earnings results on Monday, November 13th. The business services provider reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02. The business had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $9.90 million. The company’s revenue was up 31.7% on a year-over-year basis. analysts expect that Everspin Tech will post -1.79 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Everspin Tech (MRAM) Given New $17.00 Price Target at Needham & Company LLC” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/14/everspin-tech-mram-given-new-17-00-price-target-at-needham-company-llc.html.

A number of institutional investors have recently made changes to their positions in the business. Concert Wealth Management Inc. bought a new stake in Everspin Tech in the 2nd quarter worth $264,000. Renaissance Technologies LLC bought a new stake in Everspin Tech in the 1st quarter worth $126,000. Wells Fargo & Company MN bought a new stake in Everspin Tech in the 2nd quarter worth $322,000. B. Riley Financial Inc. bought a new stake in Everspin Tech in the 2nd quarter worth $346,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Everspin Tech in the 2nd quarter worth $419,000. 28.28% of the stock is currently owned by institutional investors and hedge funds.

Everspin Tech Company Profile

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.

Receive News & Stock Ratings for Everspin Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Tech and related stocks with our FREE daily email newsletter.