EVERSPIN TECH (MRAM) Holdings Reduced by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC decreased its holdings in EVERSPIN TECH (NASDAQ:MRAM) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,328 shares of the business services provider’s stock after selling 43,121 shares during the quarter. Mutual of America Capital Management LLC owned approximately 2.07% of EVERSPIN TECH worth $5,181,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Concert Wealth Management Inc. purchased a new stake in EVERSPIN TECH in the 2nd quarter valued at about $264,000. Renaissance Technologies LLC purchased a new stake in EVERSPIN TECH in the 1st quarter valued at about $126,000. Wells Fargo & Company MN purchased a new stake in EVERSPIN TECH in the 2nd quarter valued at about $322,000. Dialectic Capital Management LP purchased a new stake in EVERSPIN TECH in the 1st quarter valued at about $182,000. Finally, Royce & Associates LP purchased a new stake in EVERSPIN TECH in the 2nd quarter valued at about $2,833,000. Institutional investors own 28.91% of the company’s stock.
Several research firms have commented on MRAM. Needham & Company LLC restated a “buy” rating and issued a $12.00 price target on shares of EVERSPIN TECH in a report on Monday, June 12th. Stifel Nicolaus lifted their price target on EVERSPIN TECH from $11.00 to $19.00 and gave the company a “buy” rating in a report on Monday, June 5th. Zacks Investment Research cut EVERSPIN TECH from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, Canaccord Genuity restated a “buy” rating and issued a $18.00 price target (up previously from $12.00) on shares of EVERSPIN TECH in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. EVERSPIN TECH has a consensus rating of “Buy” and an average price target of $16.60.
Shares of EVERSPIN TECH (MRAM) opened at 17.615 on Friday. The stock’s market cap is $223.25 million. EVERSPIN TECH has a 12-month low of $6.15 and a 12-month high of $19.25. The firm has a 50-day moving average price of $16.60 and a 200 day moving average price of $16.60.
EVERSPIN TECH (NASDAQ:MRAM) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The firm had revenue of $8.93 million during the quarter, compared to the consensus estimate of $8.75 million. Equities research analysts predict that EVERSPIN TECH will post ($1.73) EPS for the current fiscal year.
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About EVERSPIN TECH
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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