Everspin Technologies (NASDAQ:MRAM) Raised to “Buy” at StockNews.com

Everspin Technologies (NASDAQ:MRAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

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

Everspin Technologies Stock Down 1.7 %

MRAM stock traded down $0.10 during mid-day trading on Wednesday, hitting $5.87. 72,645 shares of the company were exchanged, compared to its average volume of 120,710. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.44. The business has a fifty day simple moving average of $5.94 and a 200-day simple moving average of $5.99. The firm has a market capitalization of $128.96 million, a P/E ratio of 97.83 and a beta of 0.90.

Insider Buying and Selling at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the completion of the sale, the chief executive officer now directly owns 440,215 shares in the company, valued at $2,438,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 24,037 shares of company stock valued at $132,561. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Herald Investment Management Ltd raised its stake 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 valued at $2,835,000 after purchasing an additional 139,817 shares in the last quarter. Acadian Asset Management LLC lifted its position in Everspin Technologies by 17.0% in the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after purchasing an additional 121,717 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Everspin Technologies by 15.9% during 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 buying an additional 55,772 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Everspin Technologies by 75.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock worth $681,000 after buying an additional 49,032 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Everspin Technologies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock valued at $6,153,000 after buying an additional 22,657 shares in the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

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.