Key Highlights
- Shares of MRAM reached a 52-week peak at $23.10 on May 8, closing near $22.59 with approximately 437,000 shares traded
- The company secured a decade-long manufacturing partnership with Microchip Technology for U.S.-based MRAM production in Oregon
- First-quarter earnings showed $0.11 per share and $14.87M in revenue, surpassing the $14.60M analyst forecast
- Second-quarter 2026 earnings forecast ranges from $0.000 to $0.030 per share; Wall Street maintains a Hold rating with $18.50 average price target
- Top executives offloaded approximately $796K in company shares during early May
Shares of Everspin Technologies (MRAM) soared to a fresh 52-week peak of $23.10 this past Friday, May 8, ultimately closing near $22.59. This represents a significant premium over both the 50-day moving average of $11.18 and the 200-day moving average of $10.63.
Everspin Technologies, Inc., MRAM
Trading activity reached approximately 437,000 shares, elevated from the previous session’s close of $21.51.
The semiconductor stock has surged roughly 25% in recent trading sessions, primarily fueled by a strategic manufacturing partnership unveiled last month.
Strategic Partnership With Microchip Technology
On April 8, Everspin revealed a decade-long collaboration with Microchip Technology to manufacture MRAM and Tunnel Magnetoresistive (TMR) sensor components at Microchip’s fabrication plant in Oregon.
Under the arrangement, Everspin retains full ownership of its intellectual property and manufacturing processes. The partnership also provides ITAR-compliant wafer production capabilities, a critical requirement for serving defense and aerospace sectors.
Everspin plans to maintain operations at its current Chandler, Arizona facility alongside the new Oregon production line. Initial product deliveries from the Oregon fab are anticipated during the latter half of 2027.
The contract includes provisions for extension in two-year cycles following the initial 10-year period.
Strong Quarter, But Conservative Near-Term Forecast
Everspin delivered first-quarter 2026 earnings per share of $0.11 alongside revenue of $14.87 million, exceeding Wall Street’s $14.60 million projection.
The company reported a net margin of 0.50% and return on equity of 4.78%.
However, the second-quarter 2026 outlook presents a more cautious picture. Management projected earnings per share between $0.000 and $0.030 — an unusually broad and modest range indicating near-term uncertainty.
With a market capitalization of $593 million and a price-to-earnings ratio of 2,532, the company’s profitability trajectory remains in early stages.
Mixed Signals From Analysts and Company Leadership
Wall Street opinion remains divided. Needham upgraded its price objective from $14.00 to $18.50 while reaffirming a Buy rating on April 30. Weiss Ratings maintained a Sell stance in March. Wall Street Zen shifted its recommendation from Buy to Hold in February.
The overall consensus rests at Hold with an $18.50 average price target — notably beneath current trading levels.
Regarding insider transactions, CEO Sanjeev Aggarwal divested 28,459 shares at $19.58 on May 4, generating approximately $557,000. This transaction reduced his holdings by 3.36%.
CFO William Earl Cooper sold 11,000 shares at $21.75 on May 6, totaling $239,250 — representing a 6.39% decrease in his position.
Overall, company insiders have sold roughly 60,448 shares valued at approximately $990,000 during the past three months.
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 of 1.75 indicates elevated volatility relative to broader market indices.
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