Zacks Investment Research lowered shares of Everspin Tech (NASDAQ:MRAM) from a hold rating to a sell rating in a report released on Saturday morning.

According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “

A number of other research firms also recently commented on MRAM. Needham & Company LLC restated a buy rating and set a $24.00 price objective on shares of Everspin Tech in a report on Monday, August 28th. Canaccord Genuity restated a buy rating and set a $18.00 price objective (up from $12.00) on shares of Everspin Tech in a report on Monday, August 14th. Finally, Stifel Nicolaus restated a buy rating and set a $18.00 price objective (down from $19.00) on shares of Everspin Tech in a report on Friday, August 11th.

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

Everspin Tech (NASDAQ:MRAM) last released its quarterly earnings data 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 firm had revenue of $8.30 million for the quarter, compared to analyst estimates of $9.90 million. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. equities analysts anticipate that Everspin Tech will post -1.79 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in MRAM. Royce & Associates LP acquired a new stake in Everspin Tech in the 2nd quarter valued at $2,833,000. Vanguard Group Inc. increased its holdings in Everspin Tech by 248.2% in the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after purchasing an additional 98,963 shares in the last quarter. EAM Investors LLC increased its holdings in Everspin Tech by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after purchasing an additional 87,167 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in Everspin Tech in the 3rd quarter valued at $560,000. Finally, Bamco Inc. NY increased its holdings in Everspin Tech by 15.5% in the 2nd quarter. Bamco Inc. NY now owns 202,725 shares of the business services provider’s stock valued at $4,050,000 after purchasing an additional 27,183 shares in the last quarter. Hedge funds and other institutional investors own 28.28% of the company’s stock.

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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