Everspin Technologies (NASDAQ:MRAM) Upgraded at StockNews.com

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

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

Everspin Technologies Stock Performance

Shares of MRAM opened at $5.87 on Wednesday. The company has a 50-day simple moving average of $5.96 and a 200-day simple moving average of $5.98. Everspin Technologies has a 52 week low of $4.89 and a 52 week high of $9.44. The firm has a market capitalization of $128.96 million, a P/E ratio of 97.83 and a beta of 0.90.

Insider Transactions at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total value of $97,077.42. Following the completion of the transaction, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 24,037 shares of company stock valued at $132,561. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

A number of large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake 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 valued at $5,003,000 after purchasing an additional 121,717 shares in the last quarter. Herald Investment Management Ltd grew its stake in Everspin Technologies by 41.7% during the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after buying an additional 139,817 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Everspin Technologies by 75.9% during the second quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock worth $681,000 after buying an additional 49,032 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Everspin Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock valued at $6,153,000 after acquiring an additional 22,657 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Everspin Technologies in the 2nd quarter worth approximately $129,000. 44.68% of the stock is currently owned by institutional investors.

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.