Everspin Technologies (NASDAQ:MRAM) Issues Q3 2024 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.100–0.050 for the period, compared to the consensus EPS estimate of 0.050. The company issued revenue guidance of $11.5 million-$12.5 million, compared to the consensus revenue estimate of $13.1 million.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com lowered Everspin Technologies from a buy rating to a hold rating in a research note on Thursday, July 25th. Needham & Company LLC decreased their price target on Everspin Technologies from $12.00 to $8.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Finally, Craig Hallum reduced their price objective on shares of Everspin Technologies from $11.00 to $10.00 and set a buy rating on the stock in a report on Thursday, May 2nd.

Everspin Technologies Stock Up 0.5 %

NASDAQ:MRAM traded up $0.03 during trading hours on Wednesday, reaching $6.21. 93,643 shares of the stock were exchanged, compared to its average volume of 127,873. Everspin Technologies has a twelve month low of $5.54 and a twelve month high of $10.50. The business has a 50-day moving average of $6.13 and a two-hundred day moving average of $7.29. The company has a market capitalization of $133.64 million, a price-to-earnings ratio of 16.70 and a beta of 0.91.

Everspin Technologies (NASDAQ:MRAM) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $14.43 million for the quarter. Everspin Technologies had a net margin of 12.77% and a return on equity of 15.70%. During the same period last year, the business earned $0.04 EPS.

Insider Transactions at Everspin Technologies

In other Everspin Technologies news, CFO Anuj Aggarwal sold 12,984 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total transaction of $78,033.84. Following the sale, the chief financial officer now owns 276,940 shares of the company’s stock, valued at $1,664,409.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Anuj Aggarwal sold 12,984 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $78,033.84. Following the completion of the sale, the chief financial officer now directly owns 276,940 shares of the company’s stock, valued at approximately $1,664,409.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjeev Aggarwal sold 17,631 shares of Everspin Technologies stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $105,962.31. Following the transaction, the chief executive officer now directly owns 459,048 shares in the company, valued at approximately $2,758,878.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,424 shares of company stock valued at $207,009. 6.10% of the stock is currently owned by corporate insiders.

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.