Everspin Technologies, Inc. (MRAM): Good First Quarter Out Of The Gate - Needham

November 15, 2016 6:22 AM EST
Get Alerts MRAM Hot Sheet
Price: $8.25 -0.84%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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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.

For an analyst ratings summary and ratings history on Everspin Technologies click here. For more ratings news on Everspin Technologies click here.

Shares of Everspin Technologies closed at $6.93 yesterday.

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