Everspin Tech (MRAM) Posts Earnings Results
Everspin Tech (NASDAQ:MRAM) announced its quarterly earnings results on Monday. The business services provider reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02, Bloomberg Earnings reports. The company had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year.
Shares of Everspin Tech (NASDAQ MRAM) opened at $9.62 on Tuesday. Everspin Tech has a 12-month low of $6.63 and a 12-month high of $25.39. The company has a current ratio of 4.47, a quick ratio of 3.57 and a debt-to-equity ratio of 0.63.
MRAM has been the subject of a number of analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $12.00) on shares of Everspin Tech in a research report on Monday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target (down previously from $19.00) on shares of Everspin Tech in a research report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target on shares of Everspin Tech in a research report on Monday, August 28th. Finally, Zacks Investment Research raised Everspin Tech from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.
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.
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