Bank of New York Mellon Corp Reduces Holdings in Everspin Technologies, Inc. (NASDAQ:MRAM)

Bank of New York Mellon Corp lowered its stake in Everspin Technologies, Inc. (NASDAQ:MRAM) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 95,090 shares of the business services provider’s stock after selling 3,935 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.43% of Everspin Technologies worth $608,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake 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 valued at $2,437,000 after acquiring an additional 1,941 shares during the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 3,298 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Everspin Technologies during the 3rd quarter worth about $82,000. BNP Paribas Financial Markets boosted its stake in shares of Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after purchasing an additional 14,220 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Everspin Technologies by 49.3% during the third quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider’s stock worth $346,000 after buying an additional 19,367 shares in the last quarter. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 35,142 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $5.37, for a total transaction of $188,712.54. Following the completion of the sale, the chief executive officer now directly owns 654,828 shares of the company’s stock, valued at $3,516,426.36. The trade was a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by insiders.

Everspin Technologies Trading Down 0.6 %

Everspin Technologies stock opened at $5.12 on Thursday. The stock has a fifty day moving average price of $5.74 and a 200 day moving average price of $5.99. Everspin Technologies, Inc. has a 52 week low of $4.89 and a 52 week high of $8.17. The firm has a market capitalization of $113.36 million, a P/E ratio of 85.33 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%. The business had revenue of $13.20 million during the quarter, compared to analysts’ expectations of $12.50 million.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

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.