Everspin Technologies (MRAM) Announces Earnings Results
Everspin Technologies (NASDAQ:MRAM) released its earnings results on Thursday. The business services provider reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01, Briefing.com reports. Everspin Technologies had a negative return on equity of 75.89% and a negative net margin of 39.62%. The business had revenue of $11.52 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period last year, the business posted ($0.43) earnings per share. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. Everspin Technologies updated its Q4 guidance to $(0.22)-(0.18) EPS.
NASDAQ:MRAM traded up $0.06 during trading hours on Friday, reaching $7.72. The stock had a trading volume of 73,471 shares, compared to its average volume of 43,429. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.57. Everspin Technologies has a 12-month low of $6.33 and a 12-month high of $11.48. The company has a market capitalization of $128.47 million, a P/E ratio of -4.57 and a beta of 2.30.
A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Everspin Technologies in a research report on Thursday, August 9th. Zacks Investment Research downgraded Everspin Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Finally, TheStreet raised Everspin Technologies from a “d” rating to a “c-” rating in a research report on Monday, August 6th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.75.
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Everspin Technologies Company Profile
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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