Everspin Technologies (NASDAQ:MRAM) Releases Q2 2022 Earnings Guidance – MarketBeat
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Everspin Technologies (NASDAQ:MRAM – Get Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -$0.06-0 for the period, compared to the consensus earnings per share estimate of $0.05. The company issued revenue guidance of $13.60 million-$14.60 million, compared to the consensus revenue estimate of $14.50 million.
Several brokerages recently weighed in on MRAM. Needham & Company LLC boosted their target price on Everspin Technologies from $12.00 to $13.00 and gave the stock a strong-buy rating in a research note on Thursday, March 3rd. StockNews.com lowered Everspin Technologies from a strong-buy rating to a buy rating in a research note on Friday, May 20th.
Everspin Technologies stock opened at $6.10 on Wednesday. The firm has a market cap of $122.18 million, a PE ratio of 18.49 and a beta of 1.26. Everspin Technologies has a 12 month low of $5.06 and a 12 month high of $14.36. The stock’s 50 day simple moving average is $7.15 and its two-hundred day simple moving average is $9.24. The company has a current ratio of 4.33, a quick ratio of 3.60 and a debt-to-equity ratio of 0.03.
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Everspin Technologies (NASDAQ:MRAM – Get Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. Everspin Technologies had a net margin of 11.38% and a return on equity of 27.52%. The business had revenue of $18.22 million during the quarter. During the same quarter last year, the company posted ($0.08) EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PDT Partners LLC boosted its stake in Everspin Technologies by 13.6% during the first quarter. PDT Partners LLC now owns 21,588 shares of the business services provider’s stock worth $188,000 after buying an additional 2,588 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Everspin Technologies by 16.2% in the fourth quarter. JPMorgan Chase & Co. now owns 28,483 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 3,972 shares during the period. State Street Corp increased its position in Everspin Technologies by 12.4% during the first quarter. State Street Corp now owns 45,088 shares of the business services provider’s stock worth $393,000 after purchasing an additional 4,961 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Everspin Technologies during the fourth quarter worth about $71,000. Finally, Renaissance Technologies LLC boosted its holdings in Everspin Technologies by 2.4% in the 1st quarter. Renaissance Technologies LLC now owns 269,806 shares of the business services provider’s stock valued at $2,350,000 after purchasing an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 54.57% of the company’s stock.
Everspin Technologies Company Profile (Get Rating)
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for embedded MRAM.
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