JPMorgan Chase & Co. Purchases 19,367 Shares of Everspin Technologies, Inc. (NASDAQ:MRAM)

JPMorgan Chase & Co. boosted its position in shares of Everspin Technologies, Inc. (NASDAQ:MRAM) by 49.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,668 shares of the business services provider’s stock after purchasing an additional 19,367 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Everspin Technologies worth $346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Everspin Technologies by 157.9% in the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after buying an additional 32,240 shares during the period. Jane Street Group LLC bought a new stake in shares of Everspin Technologies during the third quarter worth $82,000. Geode Capital Management LLC increased its stake in Everspin Technologies by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock worth $2,437,000 after buying an additional 1,941 shares during the period. State Street Corp boosted its position in Everspin Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after buying an additional 3,298 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Everspin Technologies by 222.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after acquiring an additional 14,220 shares in the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Technologies Stock Up 0.8 %

Shares of NASDAQ:MRAM opened at $6.22 on Thursday. The firm has a 50 day moving average of $6.34 and a 200 day moving average of $6.04. The company has a market capitalization of $136.65 million, a price-to-earnings ratio of 103.67 and a beta of 0.90. Everspin Technologies, Inc. has a 52 week low of $4.89 and a 52 week high of $9.39.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.18. The firm had revenue of $12.09 million during the quarter. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. During the same quarter last year, the company earned $0.11 earnings per share.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MRAM shares. StockNews.com raised shares of Everspin Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, December 28th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st.

Everspin Technologies Profile

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.