Analyst Quinn Bolton of Needham maintained a Buy rating on Everspin Technologies (MRAM – Research Report), with a price target of $8.00.
Quinn Bolton has given his Buy rating due to a combination of factors that indicate strong future prospects for Everspin Technologies. The company’s recent revenue performance has exceeded market expectations, with both the fourth quarter of 2024 and the first quarter of 2025 showing promising results. This positive trend is supported by the company’s strategic shift to non-GAAP metrics, which aims to enhance transparency and comparability for investors.
Furthermore, Everspin’s STT product line is gaining momentum, particularly with the successful validation of its 4 megabit STTT-MRAM PERSYST product across Lattice’s FPGA portfolio. Additionally, the company is seeing continued revenue from its RadHard projects, with expectations for renewal from partners like Frontgrade Tech and QuickLogic. The emerging opportunities in the electric vehicle sector, highlighted by initial revenue from Lucid Gravity Electric, further bolster the company’s growth potential.
In another report released yesterday, Craig-Hallum also maintained a Buy rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 41 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.
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