In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Everspin Technologies Inc (MRAM), with a price target of $14. The company’s shares opened today at $8.14.
Gill observed:
“Everspin is up ~35% over the past two days on news that Intel was integrating embedded MRAM into its 22nm FinFET CMOS technology on full 300mm wafers. We don’t know if Intel is using the Everspin’s technology but Intel’s decision certainly validates the MRAM technology, which has been the crux of the investment theme. Everspin has a licensing agreement with Global Foundries to embedded MRAM on its 22nm FD-SOI technology. We believe the major MCU suppliers will eventually replace eFlash with MRAM targeting IoT and automotive applications as it has higher endurance and faster write cycles.”
According to TipRanks.com, Gill is a 5-star analyst with an average return of 11.9% and a 57.0% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings Inc, and Adesto Technologies Corp.
Everspin Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.
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The company has a one-year high of $11.20 and a one-year low of $5.30. Currently, Everspin Technologies Inc has an average volume of 41.08K.
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Everspin Technologies, Inc. engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products store data as a magnetic state and is offered as either a discrete or embedded solution.
