Brokerages Expect Everspin Tech (MRAM) Will Announce Earnings of -$0.37 Per Share

Equities analysts forecast that Everspin Tech (NASDAQ:MRAM) will post earnings of ($0.37) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Everspin Tech’s earnings. Everspin Tech posted earnings of ($0.48) per share in the same quarter last year, which indicates a positive year over year growth rate of 22.9%. The business is expected to report its next earnings report on Friday, March 9th.

According to Zacks, analysts expect that Everspin Tech will report full year earnings of ($1.72) per share for the current financial year, with EPS estimates ranging from ($1.72) to ($1.71). For the next year, analysts expect that the business will post earnings of ($0.73) per share, with EPS estimates ranging from ($1.27) to ($0.19). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Everspin Tech.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.02. Everspin Tech had a negative net margin of 66.90% and a negative return on equity of 108.26%. The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. Everspin Tech’s revenue was up 31.7% on a year-over-year basis.

MRAM has been the subject of several research reports. Canaccord Genuity reiterated a “buy” rating and set a $18.00 price objective (up previously from $12.00) on shares of Everspin Tech in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Everspin Tech from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Needham & Company LLC cut their target price on shares of Everspin Tech from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 14th. cut their target price on shares of Everspin Tech from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, November 15th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $18.00 price target on shares of Everspin Tech in a report on Thursday, October 12th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.75.

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Everspin Tech in the 1st quarter worth approximately $126,000. Royce & Associates LP purchased a new stake in shares of Everspin Tech in the second quarter worth $2,833,000. Wells Fargo & Company MN purchased a new stake in shares of Everspin Tech in the second quarter worth $322,000. Concert Wealth Management Inc. bought a new position in shares of Everspin Tech during the second quarter worth $264,000. Finally, Vanguard Group Inc. raised its stake in shares of Everspin Tech by 248.2% in the second quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after acquiring an additional 98,963 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Shares of Everspin Tech (NASDAQ:MRAM) remained flat at $$7.48 during trading hours on Friday. The company’s stock had a trading volume of 53,092 shares, compared to its average volume of 190,734. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04. Everspin Tech has a 12 month low of $6.63 and a 12 month high of $25.39.

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About Everspin Tech

Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.

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