$10.10 Million in Sales Expected for Everspin Technologies Inc (MRAM) This Quarter
Brokerages expect that Everspin Technologies Inc (NASDAQ:MRAM) will report $10.10 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Everspin Technologies’ earnings. Everspin Technologies posted sales of $7.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The firm is expected to report its next quarterly earnings report on Friday, March 9th.
According to Zacks, analysts expect that Everspin Technologies will report full-year sales of $10.10 million for the current year. For the next financial year, analysts forecast that the company will report sales of $61.75 million per share, with estimates ranging from $49.20 million to $74.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Everspin Technologies.
Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $9.90 million. Everspin Technologies had a negative net margin of 66.90% and a negative return on equity of 108.26%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN purchased a new position in Everspin Technologies in the second quarter worth approximately $322,000. B. Riley Financial Inc. purchased a new position in Everspin Technologies in the second quarter worth approximately $346,000. Mesirow Financial Investment Management Inc. purchased a new position in Everspin Technologies in the second quarter worth approximately $419,000. Stifel Financial Corp purchased a new position in Everspin Technologies in the second quarter worth approximately $525,000. Finally, Bamco Inc. NY lifted its stake in Everspin Technologies by 15.5% in the second quarter. Bamco Inc. NY now owns 202,725 shares of the business services provider’s stock worth $4,050,000 after acquiring an additional 27,183 shares during the last quarter. Institutional investors own 24.32% of the company’s stock.
Shares of Everspin Technologies (NASDAQ:MRAM) traded down $0.19 during mid-day trading on Friday, hitting $8.21. 229,931 shares of the company were exchanged, compared to its average volume of 161,790. The company has a quick ratio of 2.27, a current ratio of 3.04 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $104.81 and a PE ratio of -4.51. Everspin Technologies has a 52-week low of $6.69 and a 52-week high of $25.39.
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Everspin Technologies Company Profile
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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