Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Here’s Why

Everspin Tech (NASDAQ:MRAM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $26.99, but opened at $36.10. Everspin Tech shares last traded at $35.6880, with a volume of 6,202,963 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRAM. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Friday, March 27th. Needham & Company LLC upped their target price on Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.50.

Everspin Tech Price Performance

The stock has a market capitalization of $993.93 million, a P/E ratio of 4,299.40 and a beta of 1.75. The stock’s fifty day moving average is $11.18 and its 200-day moving average is $10.63.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 earnings per share for the quarter. The company had revenue of $14.87 million during the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Buying and Selling

In related news, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $21.75, for a total value of $239,250.00. Following the transaction, the chief financial officer directly owned 161,030 shares of the company’s stock, valued at approximately $3,502,402.50. This trade represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjeev Aggarwal sold 28,459 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $19.58, for a total value of $557,227.22. Following the completion of the transaction, the chief executive officer directly owned 819,422 shares in the company, valued at $16,044,282.76. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,448 shares of company stock worth $989,576 over the last three months. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Herald Investment Management Ltd raised its stake in shares of Everspin Tech by 18.5% in the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock valued at $7,416,000 after acquiring an additional 125,000 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Everspin Tech in the 3rd quarter valued at approximately $433,000. Thompson Davis & CO. Inc. bought a new position in shares of Everspin Tech in the 3rd quarter valued at approximately $131,000. Dimensional Fund Advisors LP raised its stake in shares of Everspin Tech by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after acquiring an additional 46,929 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. bought a new position in shares of Everspin Tech in the 1st quarter valued at approximately $99,000. 44.68% of the stock is owned by institutional investors.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.