Zacks: Analysts Set $14.75 Price Target for Everspin Technologies Inc (MRAM)

Everspin Technologies Inc (NASDAQ:MRAM) has earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus target price of $14.75 for the company and are expecting that the company will post ($0.43) earnings per share for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 98 out of 255 based on the ratings given to its competitors.

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Several equities analysts have recently issued reports on MRAM shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Everspin Technologies in a report on Friday, March 16th. Zacks Investment Research cut Everspin Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. Finally, Stifel Nicolaus decreased their price objective on Everspin Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, March 16th.

Shares of Everspin Technologies traded down $0.08, hitting $9.17, on Friday, MarketBeat.com reports. The company had a trading volume of 236,996 shares, compared to its average volume of 155,778. The stock has a market cap of $160.90 million, a PE ratio of -5.37 and a beta of 3.33. The company has a quick ratio of 3.24, a current ratio of 3.89 and a debt-to-equity ratio of 0.18. Everspin Technologies has a twelve month low of $6.40 and a twelve month high of $25.39.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Friday, May 11th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.33. The business had revenue of $14.85 million during the quarter, compared to analysts’ expectations of $9.60 million. Everspin Technologies had a negative return on equity of 80.66% and a negative net margin of 38.03%. The company’s revenue for the quarter was up 88.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. sell-side analysts anticipate that Everspin Technologies will post -0.71 earnings per share for the current fiscal year.

In related news, VP Thomas Andre sold 4,807 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $8.58, for a total value of $41,244.06. Following the completion of the transaction, the vice president now owns 13,551 shares of the company’s stock, valued at approximately $116,267.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp acquired a new position in Everspin Technologies in the 1st quarter worth about $155,000. King Luther Capital Management Corp acquired a new position in Everspin Technologies in the 1st quarter worth about $321,000. B. Riley Financial Inc. raised its holdings in Everspin Technologies by 21.1% in the 4th quarter. B. Riley Financial Inc. now owns 49,300 shares of the business services provider’s stock worth $370,000 after purchasing an additional 8,580 shares during the period. Stifel Financial Corp raised its holdings in Everspin Technologies by 115.6% in the 1st quarter. Stifel Financial Corp now owns 64,968 shares of the business services provider’s stock worth $504,000 after purchasing an additional 34,834 shares during the period. Finally, Millennium Management LLC acquired a new position in Everspin Technologies in the 1st quarter worth about $647,000. 35.01% of the stock is owned by institutional investors.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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Barrow Hanley Mewhinney & Strauss LLC Sells 19,336 Shares of Versum Materials (VSM)

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in Versum Materials (NYSE:VSM) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,309,010 shares of the basic materials company’s stock after selling 19,336 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.06% of Versum Materials worth $237,408,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Group One Trading L.P. bought a new stake in Versum Materials in the first quarter valued at approximately $115,000. Envestnet Asset Management Inc. lifted its position in Versum Materials by 72.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,596 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 1,925 shares during the last quarter. TLP Group LLC lifted its position in Versum Materials by 15,817.1% in the first quarter. TLP Group LLC now owns 5,571 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 5,536 shares during the last quarter. Silvant Capital Management LLC bought a new stake in Versum Materials in the first quarter valued at approximately $384,000. Finally, Alps Advisors Inc. lifted its position in Versum Materials by 97.5% in the first quarter. Alps Advisors Inc. now owns 12,202 shares of the basic materials company’s stock valued at $459,000 after purchasing an additional 6,024 shares during the last quarter. Hedge funds and other institutional investors own 91.22% of the company’s stock.

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A number of brokerages recently commented on VSM. Zacks Investment Research upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Friday, May 11th. Argus upgraded Versum Materials from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Jefferies Financial Group upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Monday, March 26th. Finally, Credit Suisse Group upped their target price on Versum Materials from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Versum Materials presently has an average rating of “Buy” and a consensus target price of $39.38.

Shares of Versum Materials stock opened at $39.50 on Tuesday. The company has a quick ratio of 3.78, a current ratio of 5.09 and a debt-to-equity ratio of 7.69. The company has a market cap of $4.35 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.46. Versum Materials has a 52 week low of $31.35 and a 52 week high of $42.74.

Versum Materials (NYSE:VSM) last announced its earnings results on Tuesday, May 8th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $340.70 million during the quarter, compared to the consensus estimate of $312.84 million. Versum Materials had a return on equity of 459.92% and a net margin of 14.12%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. equities analysts predict that Versum Materials will post 2.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Investors of record on Tuesday, May 15th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.61%. This is a boost from Versum Materials’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 14th. Versum Materials’s dividend payout ratio is presently 12.57%.

About Versum Materials

Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. It operates in two segments, Materials, and Delivery Systems and Services (DS&S). The Materials segment provides specialty chemicals and materials used in semiconductors, as well as specialty gases used in the semiconductor manufacturing process, including high purity process materials for deposition, metallization, and chamber cleaning and etching; chemicals mechanical planarization slurries; organosilanes; organometallics and liquid dopants for thin film deposition; and formulated chemical products for post-etch cleaning primarily for the manufacture of silicon and compound semiconductors, and thin film transistor liquid crystal displays.

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