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Everspin Technologies (MRAM) Receives a Buy from Needham

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In a report released today, Rajvindra Gill from Needham reiterated a Buy rating on Everspin Technologies (MRAMResearch Report), with a price target of $12.00. The company’s shares closed last Wednesday at $10.16.

According to TipRanks.com, Gill is a top 100 analyst with an average return of 21.0% and a 70.2% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Silicon Laboratories.

Everspin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.

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Based on Everspin Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $14.8 million and net profit of $880K. In comparison, last year the company earned revenue of $10.12 million and had a GAAP net loss of $3.9 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRAM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Everspin Technologies, Inc. engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products store data as a magnetic state and is offered as either a discrete or embedded solution. Its products include Toggle MRAM, Spin-transfer Torque MRAM, nvNITRO Solutions, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.

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