Everspin Technologies (NASDAQ:MRAM) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a report issued on Thursday morning.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st.

Everspin Technologies Price Performance

Shares of Everspin Technologies stock opened at $6.36 on Thursday. Everspin Technologies has a 1-year low of $4.89 and a 1-year high of $9.43. The business’s fifty day moving average price is $6.03 and its two-hundred day moving average price is $5.95. The company has a market capitalization of $139.73 million, a P/E ratio of 106.00 and a beta of 0.90.

Insider Buying and Selling

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction dated Wednesday, October 2nd. The stock was 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. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 24,037 shares of company stock valued at $132,561 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Everspin Technologies

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Everspin Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock valued at $6,153,000 after purchasing an additional 22,657 shares during the last quarter. Oppenheimer & Close LLC lifted its position in shares of Everspin Technologies by 32.3% during the 2nd quarter. Oppenheimer & Close LLC now owns 82,000 shares of the business services provider’s stock valued at $491,000 after acquiring an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Everspin Technologies by 75.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock worth $681,000 after acquiring an additional 49,032 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Everspin Technologies in the 2nd quarter worth $129,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Everspin Technologies by 17.0% in the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after acquiring an additional 121,717 shares during the last quarter. Institutional investors own 44.68% of the company’s stock.

Everspin Technologies Company Profile

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.