Everspin Technologies (NASDAQ:MRAM) Upgraded at StockNews.com

Everspin Technologies (NASDAQ:MRAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st.

Everspin Technologies Stock Up 0.3 %

NASDAQ MRAM opened at $6.57 on Friday. The company has a market cap of $144.36 million, a PE ratio of 109.50 and a beta of 0.90. Everspin Technologies has a 52 week low of $4.89 and a 52 week high of $9.40. The firm’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $6.00.

Insiders Place Their Bets

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 23,991 shares of company stock worth $135,839 in the last quarter. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MRAM. Acadian Asset Management LLC boosted its stake in Everspin Technologies by 17.0% during the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after buying an additional 121,717 shares during the period. Herald Investment Management Ltd boosted its position in shares of Everspin Technologies by 41.7% during the 2nd quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after acquiring an additional 139,817 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock worth $2,437,000 after purchasing an additional 1,941 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Everspin Technologies by 15.9% in the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after purchasing an additional 55,772 shares during the last quarter. Finally, State Street Corp increased its position in shares of Everspin Technologies by 1.5% in the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after purchasing an additional 3,298 shares during the last quarter. Institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.