Everspin Technologies (NASDAQ:MRAM) Issues Q3 2019 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $-0.21–0.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.25. The company issued revenue guidance of $8.5-9 million, compared to the consensus revenue estimate of $9.5 million.Everspin Technologies also updated its Q3 guidance to ($0.21)-(0.17) EPS.

Shares of MRAM stock traded down $0.44 during trading hours on Friday, reaching $5.47. The company had a trading volume of 165,009 shares, compared to its average volume of 61,645. The firm’s 50 day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.84 and a current ratio of 2.55. The firm has a market capitalization of $103.82 million, a price-to-earnings ratio of -5.06 and a beta of 2.23. Everspin Technologies has a 1-year low of $5.30 and a 1-year high of $9.83.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.04. The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.40 million. Everspin Technologies had a negative return on equity of 39.43% and a negative net margin of 22.86%. The firm’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.40) EPS.

MRAM has been the topic of a number of analyst reports. Needham & Company LLC reissued a buy rating and issued a $14.00 price target on shares of Everspin Technologies in a research note on Sunday, May 12th. Zacks Investment Research raised Everspin Technologies from a sell rating to a hold rating in a research note on Thursday, July 18th. Finally, ValuEngine raised Everspin Technologies from a buy rating to a strong-buy rating in a research note on Thursday, August 1st.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.

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