Everspin Technologies (NASDAQ:MRAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a research report released on Friday morning.

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

Everspin Technologies Price Performance

Shares of NASDAQ MRAM opened at $6.23 on Friday. Everspin Technologies has a 1-year low of $4.89 and a 1-year high of $9.43. The company has a market capitalization of $136.87 million, a price-to-earnings ratio of 103.83 and a beta of 0.90. The business has a 50-day moving average of $6.19 and a 200-day moving average of $5.98.

Insider Transactions at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction dated 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 owns 440,215 shares in the company, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 23,991 shares of company stock valued at $135,839. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everspin Technologies

A number of hedge funds have recently bought and sold shares of MRAM. Herald Investment Management Ltd lifted its position in shares of Everspin Technologies by 41.7% in the 2nd 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 last quarter. Acadian Asset Management LLC lifted its holdings in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after acquiring an additional 121,717 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Everspin Technologies by 15.9% in the second 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 holdings in shares of Everspin Technologies by 75.9% during the second quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 49,032 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after purchasing an additional 32,240 shares during the period. 44.68% of the stock is currently owned by institutional investors and hedge funds.

About Everspin Technologies

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.