Everspin Technologies (NASDAQ:MRAM) Releases Q4 2024 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.000-0.050 for the period, compared to the consensus EPS estimate of -0.060. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.0 million.

Everspin Technologies Stock Performance

Shares of MRAM stock traded up $0.13 during mid-day trading on Wednesday, hitting $6.82. 137,996 shares of the stock were exchanged, compared to its average volume of 119,093. The stock’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $6.09. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.75. The stock has a market capitalization of $148.27 million, a price-to-earnings ratio of 95.57 and a beta of 0.91.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $10.64 million for the quarter. Everspin Technologies had a net margin of 2.92% and a return on equity of 3.16%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Everspin Technologies in a report on Thursday, August 1st.

Insider Buying and Selling at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the transaction, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at $2,438,791.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 25,347 shares of company stock valued at $139,635. 6.10% of the stock is owned by company insiders.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.