Everspin Technologies, Inc. (MRAM): Good First Quarter Out Of The Gate - Needham
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Needham & Company analyst, Ravendra Gill, reiterated his Strong Buy rating on shares of Everspin Technologies (NASDAQ: MRAM) after the company posted 3Q16 earnings in line with his pre-IPO estimates. Revenue was $7.2 million, EPS was (-$0.54), and GM was 60.1% (above last quarter’s 52.6%).
Everspin addresses two key markets: Battery-backed SRAM ($400-500MM TAM) with core Toggle products (densities 64-256Mb) and Battery-backed DRAM (BBDRAM) ($2 Billion TAM opportunity out of a $30 Billion DRAM market) with ST-MRAM products (densities 256Mb-4G+).
The analyst believes Everspin is at an inflection point with its ST-MRAM product addressing the larger enterprise market. No change to the price target of $10.
Shares of Everspin Technologies closed at $6.93 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Related EntitiesNeedham & Company, Earnings, IPO
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