Everspin Technologies (MRAM) Updates Q1 Earnings Guidance

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Everspin Technologies (NASDAQ:MRAM) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of (-0.28)-(-0.24) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.28). The company issued revenue guidance of $9.5-9.9 million, compared to the consensus revenue estimate of $12.43 million.Everspin Technologies also updated its Q1 2019 guidance to $-0.28–0.24 EPS.

Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Everspin Technologies from a buy rating to a hold rating in a research note on Wednesday, January 9th. Needham & Company LLC reissued a buy rating and set a $14.00 price objective on shares of Everspin Technologies in a research note on Wednesday, February 20th. Finally, ValuEngine raised shares of Everspin Technologies from a hold rating to a buy rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $11.83.

Everspin Technologies stock opened at $8.39 on Friday. Everspin Technologies has a fifty-two week low of $5.30 and a fifty-two week high of $11.20. The company has a market cap of $143.08 million, a P/E ratio of -4.96 and a beta of 2.52. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.36 and a current ratio of 2.95.

Everspin Technologies (NASDAQ:MRAM) last announced its earnings results on Thursday, March 14th. The business services provider reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. The firm had revenue of $12.30 million for the quarter, compared to the consensus estimate of $12.00 million. Everspin Technologies had a negative net margin of 37.90% and a negative return on equity of 67.47%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the company posted ($0.35) EPS. Analysts expect that Everspin Technologies will post -1.09 EPS for the current fiscal year.

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About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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