Sanjeev Aggarwal Sells 35,142 Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 35,142 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.37, for a total transaction of $188,712.54. Following the sale, the chief executive officer now directly owns 654,828 shares of the company’s stock, valued at $3,516,426.36. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Everspin Technologies Stock Performance

Shares of NASDAQ MRAM opened at $5.25 on Thursday. Everspin Technologies, Inc. has a fifty-two week low of $4.89 and a fifty-two week high of $8.66. The company has a market cap of $116.24 million, a PE ratio of 87.50 and a beta of 0.79. The business has a 50-day simple moving average of $5.97 and a two-hundred day simple moving average of $6.00.

Everspin Technologies (NASDAQ:MRAM) last released its earnings results on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The company had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million.

Institutional Investors Weigh In On Everspin Technologies

A number of large investors have recently made changes to their positions in the stock. Herald Investment Management Ltd raised its stake in Everspin Technologies by 20.0% in the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider’s stock worth $3,822,000 after acquiring an additional 100,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Everspin Technologies by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 428,480 shares of the business services provider’s stock valued at $2,739,000 after purchasing an additional 15,601 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Everspin Technologies by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider’s stock worth $2,675,000 after purchasing an additional 16,032 shares during the last quarter. State Street Corp lifted its holdings in shares of Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after purchasing an additional 3,298 shares during the period. Finally, Northern Trust Corp boosted its position in Everspin Technologies by 4.0% in the fourth quarter. Northern Trust Corp now owns 157,460 shares of the business services provider’s stock valued at $1,006,000 after buying an additional 6,127 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

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.