Everspin Technologies (NASDAQ:MRAM) Issues Q4 2022 Earnings Guidance – MarketBeat
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Everspin Technologies (NASDAQ:MRAM – Get Rating) updated its fourth quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of 0-$0.05 for the period, compared to the consensus earnings per share estimate of $0.07. The company issued revenue guidance of $14.10 million-$15.10 million, compared to the consensus revenue estimate of $15.80 million.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Everspin Technologies in a research note on Wednesday, October 12th. They issued a buy rating for the company.
Everspin Technologies Price Performance
Shares of MRAM traded down $0.42 during mid-day trading on Wednesday, reaching $6.19. The stock had a trading volume of 118,535 shares, compared to its average volume of 166,432. Everspin Technologies has a 52-week low of $4.71 and a 52-week high of $14.36. The business’s fifty day moving average is $6.11 and its 200 day moving average is $6.12. The firm has a market cap of $124.81 million, a price-to-earnings ratio of 16.53 and a beta of 1.28.
Everspin Technologies (NASDAQ:MRAM – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. Everspin Technologies had a net margin of 13.14% and a return on equity of 31.11%. The firm had revenue of $14.71 million during the quarter.
Insiders Place Their Bets
In other Everspin Technologies news, Director Michael B. Gustafson sold 28,227 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $7.51, for a total transaction of $211,984.77. Following the completion of the transaction, the director now owns 36,748 shares of the company’s stock, valued at $275,977.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 35,389 shares of company stock valued at $256,186 over the last 90 days. 4.13% of the stock is owned by company insiders.
Institutional Trading of Everspin Technologies
Several hedge funds have recently made changes to their positions in MRAM. Renaissance Technologies LLC raised its holdings in Everspin Technologies by 13.4% in the second quarter. Renaissance Technologies LLC now owns 305,906 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 36,100 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Everspin Technologies in the second quarter valued at approximately $55,000. Royal Bank of Canada raised its holdings in Everspin Technologies by 41.9% in the first quarter. Royal Bank of Canada now owns 205,500 shares of the business services provider’s stock valued at $1,790,000 after acquiring an additional 60,710 shares in the last quarter. PDT Partners LLC raised its holdings in Everspin Technologies by 13.6% in the first quarter. PDT Partners LLC now owns 21,588 shares of the business services provider’s stock valued at $188,000 after acquiring an additional 2,588 shares in the last quarter. Finally, State Street Corp raised its holdings in Everspin Technologies by 12.4% in the first quarter. State Street Corp now owns 45,088 shares of the business services provider’s stock valued at $393,000 after acquiring an additional 4,961 shares in the last quarter. Institutional investors and hedge funds own 42.15% of the company’s stock.
Everspin Technologies Company Profile
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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.
Read More
- Get a free copy of the StockNews.com research report on Everspin Technologies (MRAM)
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