Everspin Technologies, Inc. (NASDAQ: MRAM) announced that its Chief Financial Officer, William Earl Cooper, sold 6,807 shares of the company’s stock on January 7, 2024. The shares were sold at an average price of $12.06, bringing the total transaction value to approximately $82,092.42. Following this sale, Cooper holds 93,193 shares of Everspin, valued at around $1,123,907.58, marking a 6.81% decrease in his ownership stake.
The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC).
Stock Performance and Market Insights
On the following trading day, Everspin Tech’s stock experienced a decline of 1.1%, closing at $11.85. During Thursday’s trading session, 642,166 shares changed hands, which is below the average trading volume of 697,113 shares. The company currently has a market capitalization of approximately $270.86 million, with a price-to-earnings (P/E) ratio of -395.00 and a beta of 0.80.
Everspin Tech’s stock has seen a 52-week low of $4.34 and a 52-week high of $13.00. The company’s 50-day moving average stands at $9.07, while the 200-day moving average is at $8.15.
The firm last reported its quarterly earnings on November 5, 2023, revealing earnings per share (EPS) of $0.06, which exceeded analysts’ expectations of $0.05 by $0.01. Revenue for the quarter totaled $14.06 million, slightly surpassing the anticipated $14.00 million. Despite this positive performance, Everspin reported a negative return on equity of 0.89% and a negative net margin of 1.06%. For the upcoming fourth quarter of 2025, the company has set its EPS guidance between $0.080 and $0.130.
Analyst Ratings and Future Outlook
Recent analyses from equities research firms have provided varying perspectives on Everspin Tech. Needham & Company LLC elevated their price target for Everspin shares from $8.00 to $10.50 and assigned a “buy” rating in a report issued on November 10, 2023. Conversely, Weiss Ratings reaffirmed a “sell (d+)” rating in their report on December 29, 2023.
One equity research analyst has rated the stock as a buy, while another has issued a sell rating. According to data from MarketBeat, the overall consensus rating for Everspin Tech is “hold,” with an average target price of $10.50.
Everspin Technologies, founded in 2008 as a spin-out from Freescale Semiconductor, specializes in designing, developing, and marketing magnetoresistive random access memory (MRAM) solutions. The company has been at the forefront of MRAM technology, offering products that combine performance and endurance for various applications. Their product range includes discrete MRAM chips and embedded MRAM intellectual property for integration into system-on-chip designs.
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