Everspin Technologies (NASDAQ:MRAM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a research report sent to investors on Thursday.

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

Everspin Technologies Trading Up 0.6 %

MRAM opened at $6.08 on Thursday. Everspin Technologies has a 1-year low of $4.89 and a 1-year high of $9.43. The company has a market cap of $133.55 million, a price-to-earnings ratio of 101.31 and a beta of 0.90. The company’s fifty day moving average price is $6.00 and its two-hundred day moving average price is $5.95.

Insider Buying and Selling at Everspin Technologies

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

Institutional Trading of Everspin Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after purchasing an additional 121,717 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Everspin Technologies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock worth $6,153,000 after buying an additional 22,657 shares during the last quarter. Herald Investment Management Ltd boosted its holdings in shares of Everspin Technologies by 41.7% in the 2nd 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. Geode Capital Management LLC grew its position in Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 1,941 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Everspin Technologies by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after buying an additional 55,772 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other 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.