Key Highlights
- Shares of MRAM reached $23.10 on May 8, marking a fresh 52-week peak, before closing near $22.59 with approximately 437,000 shares traded
- The company inked a decade-long production agreement with Microchip Technology to boost domestic MRAM manufacturing capacity in Oregon
- First-quarter earnings per share of $0.11 and $14.87M in revenue exceeded Wall Street’s $14.60M forecast
- Second-quarter 2026 EPS outlook remains subdued at $0.000–$0.030; analysts maintain Hold rating with $18.50 average price target
- Top executives offloaded approximately $796K in shares during early May
Shares of Everspin Technologies (MRAM) surged to a 52-week peak of $23.10 on May 8, closing the trading session near $22.59. This represents a substantial premium over its 50-day moving average of $11.18 and its 200-day moving average of $10.63.
Everspin Technologies, Inc., MRAM
Trading activity reached approximately 437,000 shares, marking an increase from the previous session’s close of $21.51.
The equity has rallied roughly 25% in recent trading, propelled primarily by April’s strategic manufacturing announcement.
Strategic Partnership with Microchip Technology
Everspin revealed on April 8 a comprehensive 10-year collaboration with Microchip Technology focused on manufacturing MRAM and Tunnel Magnetoresistive (TMR) sensor components at Microchip’s fabrication plant in Oregon.
Under this arrangement, Everspin retains full ownership of its proprietary intellectual property and manufacturing processes. The partnership also introduces ITAR-compliant wafer production capabilities, a critical advantage for serving defense and aerospace sectors.
The company’s Chandler, Arizona manufacturing facility will remain operational alongside the new Oregon production line. Initial product deliveries from the Oregon facility are anticipated during the latter half of 2027.
Both parties have the option to renew the partnership in two-year increments following the initial decade-long commitment.
Quarterly Results Strong, But Forward Outlook Raises Questions
For Q1 2026, Everspin delivered earnings per share of $0.11 alongside revenue of $14.87 million, surpassing analyst projections of $14.60 million.
The company achieved a net profit margin of 0.50% and posted a return on equity of 4.78%.
However, the Q2 2026 forecast presents a more cautious picture. Management projected EPS between $0.000 and $0.030 — an unusually broad and modest range that suggests near-term headwinds.
With a current market capitalization of $593 million and a PE ratio of 2,532, the valuation reflects the nascent stage of the company’s path to sustained profitability.
Mixed Signals from Analysts and Company Leadership
Analyst sentiment remains divided. Needham elevated its price objective from $14.00 to $18.50 while reaffirming a Buy recommendation on April 30. Meanwhile, Weiss Ratings maintained a Sell stance in March, and Wall Street Zen lowered its rating from Buy to Hold in February.
The Street consensus stands at Hold, with an average price target of $18.50 — notably beneath current trading levels.
Regarding insider transactions, CEO Sanjeev Aggarwal divested 28,459 shares at $19.58 per share on May 4, generating proceeds of roughly $557,000. This transaction decreased his holdings by 3.36%.
CFO William Earl Cooper unloaded 11,000 shares at $21.75 on May 6, totaling $239,250 in value — representing a 6.39% reduction in his ownership position.
Collectively, company insiders have sold approximately 60,448 shares valued at around $990,000 during the past 90 days.
Institutional investors control 44.68% of outstanding shares, with multiple hedge funds establishing new positions in recent quarters, including Raymond James Financial, Kestra Advisory Services, and Occudo Quantitative Strategies.
The stock’s beta coefficient of 1.75 indicates elevated volatility relative to broader market indices.
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