The Vanguard Group, Inc. recently announced the acquisition of new stake in Everspin Technologies Inc. (NASDAQ:MRAM). The institutional investor has increased its shareholding in the Technology company by 0.56% to 0.73 million shares with purchase of 4069.0 shares. This fresh investment now brings its stake to 3.61% valued currently at $4.08 million. In addition, RBC Capital Markets LLC raised its holdings by 0.38 million to 0.58 million shares.
With over 0.14 million Everspin Technologies Inc. (MRAM) shares trading Monday and a closing price of $6.81 on the day, the dollar volume was approximately $0.93 million. The shares have shown a positive half year performance of 28.01% and its price on 01/23/23 gained nearly 2.41%. Currently, there are 20.21M common shares owned by the public and among those 19.47M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for MRAM have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $9.00. The average price target is 24.33% above its recent price level and an upside to the estimated low will see the stock gain 24.33% over that period. But an upside of 24.33% will see the stock hit the forecast high price target while median target price for the stock is $9.00.
Insiders at the company have transacted a total of 43 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 435,989 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 159,877 shares.
The top 3 mutual fund holders in Everspin Technologies Inc. are Vanguard Total Stock Market Index, Herald Investment Trust Plc, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.64 million shares of the company’s stock, all valued at over $3.54 million. Herald Investment Trust Plc sold 6141.0 shares to see its total holdings shrink to 0.25 million shares valued at over $1.38 million and representing 1.22% of the shares outstanding. Vanguard Extended Market Index Fu bought 316.0 shares to bring its total holdings to over 0.22 million shares at a value of $1.21 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.07% of the shares outstanding.
Shares of Everspin Technologies Inc. (NASDAQ: MRAM) opened at $6.60, down -$0.05 from a prior closing price of $6.65. However, the script later moved the day high at 7.09, up 2.41%. The company’s stock has a 5-day price change of 4.45% and 28.98% over the past three months. MRAM shares are trading 22.48% year to date (YTD), with the 12-month market performance down to -21.72% lower. It has a 12-month low price of $4.71 and touched a high of $11.51 over the same period. MRAM has an average intraday trading volume of 102.28K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.09%, 13.30%, and 9.90% respectively.
Institutional ownership of Everspin Technologies Inc. (NASDAQ: MRAM) shares accounts for 55.00% of the company’s 20.21M shares outstanding. Mutual fund holders own 29.83%, while other institutional holders and individual stakeholders account for 8.45% and 28.96% respectively.
It has a market capitalization of $131.50M and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 15.23, while the earnings-per-share (ttm) stands at $0.45. The company has a PEG of 0.76 and a Quick Ratio of 3.30 with the debt-to-equity ratio at 0.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.68% over the week and 5.12% over the month.
Analysts forecast that Everspin Technologies Inc. (MRAM) will achieve an EPS of $0.05 for the current quarter, $0.07 for the next quarter and $0.37 for 2023. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 148.00%, and -40.77% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 15.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Everspin Technologies Inc. (MRAM) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MRAM, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on November 17, 2017, with the firm’s price target at $18-$15. Needham coverage for the Everspin Technologies Inc. (MRAM) stock in a research note released on November 14, 2017 offered a Strong Buy rating with a price target of $17.