Everspin Technologies (NASDAQ:MRAM) Updates Q4 2021 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $0.020-$0.080 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.010. The company issued revenue guidance of $16.25 million-$17.25 million, compared to the consensus revenue estimate of $12.75 million.

Separately, Needham & Company LLC boosted their price objective on Everspin Technologies from $10.00 to $12.00 and gave the company a strong-buy rating in a research note on Friday, November 12th.

Shares of Everspin Technologies stock traded down $0.20 during trading hours on Thursday, hitting $12.20. 1,506,694 shares of the company were exchanged, compared to its average volume of 696,513. Everspin Technologies has a 1 year low of $4.30 and a 1 year high of $13.98. The company has a current ratio of 2.93, a quick ratio of 2.32 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $7.44 and a 200-day moving average of $6.51. The stock has a market capitalization of $239.22 million, a price-to-earnings ratio of -243.95 and a beta of 1.48.

Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Thursday, November 11th. The business services provider reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. Everspin Technologies had a negative return on equity of 4.80% and a negative net margin of 1.95%. During the same quarter in the previous year, the firm earned ($0.21) earnings per share.

In other news, insider Stephen Socolof sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $10.41, for a total transaction of $2,602,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Gustafson sold 14,286 shares of the company’s stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $12.70, for a total value of $181,432.20. The disclosure for this sale can be found here. Insiders have sold 620,388 shares of company stock valued at $7,190,706 in the last 90 days. Company insiders own 16.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Everspin Technologies by 6.1% in the third quarter. Geode Capital Management LLC now owns 110,854 shares of the business services provider’s stock valued at $718,000 after purchasing an additional 6,398 shares during the last quarter. Morgan Stanley grew its holdings in Everspin Technologies by 21.3% in the second quarter. Morgan Stanley now owns 49,503 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 8,692 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Everspin Technologies in the second quarter valued at $80,000. Finally, Two Sigma Investments LP acquired a new stake in Everspin Technologies in the third quarter valued at $255,000. 25.25% of the stock is currently owned by institutional investors.

Everspin Technologies Company Profile

Everspin Technologies, Inc engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products include Toggle MRAM, Spin-transfer Torque MRAM, nvNITRO Solutions, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.

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