Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Still a Buy?

Everspin Tech (NASDAQ:MRAM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $28.94, but opened at $30.63. Everspin Tech shares last traded at $32.0940, with a volume of 976,175 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRAM. Wall Street Zen cut Everspin Tech from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Needham & Company LLC raised their price target on Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Everspin Tech presently has an average rating of “Hold” and a consensus target price of $18.50.

Everspin Tech Stock Up 8.3%

The firm has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $12.25. The company has a market capitalization of $734.71 million, a P/E ratio of 3,154.55 and a beta of 1.75.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share (EPS) for the quarter. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The company had revenue of $14.87 million during the quarter, compared to the consensus estimate of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insiders Place Their Bets

In other Everspin Tech news, CFO William Earl Cooper sold 11,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $21.75, for a total value of $239,250.00. Following the completion of the sale, the chief financial officer directly owned 161,030 shares in the company, valued at $3,502,402.50. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glen Hawk sold 48,563 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.95, for a total value of $1,842,965.85. Following the transaction, the director owned 39,551 shares of the company’s stock, valued at approximately $1,500,960.45. The trade was a 55.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 139,011 shares of company stock valued at $3,947,342 over the last ninety days. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Everspin Tech during the second quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in Everspin Tech during the fourth quarter valued at approximately $41,000. State Street Corp boosted its position in Everspin Tech by 5.7% during the fourth quarter. State Street Corp now owns 85,288 shares of the business services provider’s stock valued at $791,000 after purchasing an additional 4,600 shares during the last quarter. Bank of America Corp DE boosted its position in Everspin Tech by 28.6% during the second quarter. Bank of America Corp DE now owns 27,150 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 6,041 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Everspin Tech by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 221,189 shares of the business services provider’s stock valued at $2,054,000 after buying an additional 8,618 shares during the last quarter. 44.68% of the stock is currently owned by institutional investors.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.