Everspin Technologies (NASDAQ:MRAM) Stock Rating Upgraded by StockNews.com

Everspin Technologies (NASDAQ:MRAM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Everspin Technologies in a research note on Thursday, October 31st.

Everspin Technologies Stock Performance

Shares of MRAM opened at $5.87 on Wednesday. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.44. The firm has a market capitalization of $128.96 million, a P/E ratio of 97.67 and a beta of 0.90. The firm has a 50-day moving average price of $5.94 and a 200 day moving average price of $5.99.

Insider Transactions at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’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 value of $97,077.42. Following the sale, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 24,037 shares of company stock worth $132,561. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Everspin Technologies

Several institutional investors have recently added to or reduced their stakes in MRAM. Herald Investment Management Ltd boosted its position in shares of Everspin Technologies by 41.7% during the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after buying an additional 139,817 shares during the period. Acadian Asset Management LLC boosted its holdings in Everspin Technologies by 17.0% during the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after acquiring an additional 121,717 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Everspin Technologies by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock valued at $2,440,000 after acquiring an additional 55,772 shares during the period. Bank of New York Mellon Corp grew its position in Everspin Technologies by 75.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after acquiring an additional 49,032 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Everspin Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock worth $6,153,000 after purchasing an additional 22,657 shares during the period. Institutional investors and hedge funds own 44.68% of the company’s stock.

Everspin Technologies Company 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.