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 report published on Friday.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Everspin Technologies in a report on Thursday.

Everspin Technologies Stock Performance

NASDAQ:MRAM opened at $5.87 on Friday. Everspin Technologies has a 52 week low of $4.89 and a 52 week high of $9.69. The firm has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $6.06. The firm has a market cap of $127.61 million, a price-to-earnings 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 the firm’s stock in a transaction that occurred on 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 owns 440,215 shares in the company, valued at $2,438,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 25,347 shares of company stock worth $139,635 over the last three months. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Everspin Technologies

A number of large investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its stake in shares of Everspin Technologies by 17.0% during the 2nd 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 period. Vanguard Group Inc. boosted its position in Everspin Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock worth $6,153,000 after purchasing an additional 22,657 shares during the period. Herald Investment Management Ltd increased its stake in shares of Everspin Technologies by 41.7% in the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after purchasing an additional 139,817 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 55,772 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Everspin Technologies by 8.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 242,102 shares of the business services provider’s stock valued at $1,917,000 after buying an additional 19,700 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.