Upgrades Everspin Technologies (NASDAQ:MRAM) to Strong-Buy

Everspin Technologies (NASDAQ:MRAM – Get Rating) was upgraded by from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Separately, Needham & Company LLC lifted their objective price on Everspin Technologies from $12.00 to $13.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 3rd.

Shares of MRAM opened at $5.96 on Thursday. The business has a 50-day moving average of $7.93 and a 200 day moving average of $9.31. Everspin Technologies has a fifty-two week low of $5.00 and a fifty-two week high of $14.36. The firm has a market cap of $118.90 million, a P/E ratio of 18.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.94 and a current ratio of 3.56.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. Everspin Technologies had a return on equity of 20.18% and a net margin of 7.88%. The company had revenue of $18.22 million during the quarter. During the same period last year, the business posted ($0.08) EPS.
Several hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in Everspin Technologies during the 4th quarter worth approximately $44,000. Prospera Financial Services Inc bought a new position in shares of Everspin Technologies in the first quarter worth $41,000. Dorsey Wright & Associates purchased a new stake in shares of Everspin Technologies in the fourth quarter worth $58,000. Barclays PLC boosted its stake in Everspin Technologies by 246.2% during the third quarter. Barclays PLC now owns 5,217 shares of the business services provider’s stock valued at $34,000 after buying an additional 3,710 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new position in Everspin Technologies during the fourth quarter worth about $71,000. Institutional investors own 54.57% of the company’s stock.

About Everspin Technologies (Get Rating)

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for embedded MRAM.

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