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CHANDLER, Ariz. - Everspin Technologies, Inc. (NASDAQ:MRAM), a prominent developer of Magnetoresistive Random Access Memory (MRAM) solutions with a market capitalization of $127 million, has announced that its PERSYST MRAM product line has been validated for use across all Field Programmable Gate Array (FPGA) families produced by Lattice (OTC:LTTC) Semiconductor. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for continued innovation in the memory solutions space. This development, facilitated by the Lattice Radiant software suite, positions MRAM as a viable and dependable memory option for a variety of critical applications within industrial, aerospace, military, and automotive sectors.
MRAM is increasingly being adopted as a replacement for traditional flash memory in FPGA configurations due to its superior performance characteristics. It offers high endurance, rapid read/write capabilities, and excellent data retention, which are essential for applications that cannot afford delays or data loss, such as real-time sensor processing, avionics data logging, and space system in-orbit reprogramming. With a robust gross profit margin of 53.9% and a current ratio of 6.74, InvestingPro analysis shows Everspin’s strong operational efficiency and liquid assets significantly exceed short-term obligations.
Sanjeev Aggarwal, President and CEO of Everspin Technologies, commented on the collaboration with Lattice Semiconductor, noting the high demand for memory solutions that are both quick and reliable, particularly in mission-critical systems. Everspin’s PERSYST MRAM, which includes a NOR interface, was designed with the anticipation of frequent and dependable FPGA configuration needs.
Everspin’s PERSYST MRAM boasts several advantages, including:
- Capacities reaching 128Mb, offering a range of configuration choices.
- High reliability and endurance, particularly in mission-critical environments.
- Fast write speeds and low power consumption for efficient operation.
- Over 15 years of proven technology use in critical storage applications.
The PERSYST EMxxLX MRAM family is currently available and being shipped in standard packages and interfaces. This announcement reinforces Everspin’s commitment to providing dependable and high-performing memory solutions for applications where data integrity is of utmost importance. Analyst price targets ranging from $8 to $10 suggest potential upside for the stock, though InvestingPro subscribers can access detailed analysis including 7 additional ProTips and comprehensive financial metrics in the Pro Research Report.
Everspin Technologies is recognized as the leading provider of MRAM solutions, catering to a broad and diverse customer base with its non-volatile memory products. The company is headquartered in Chandler, Arizona.
This news is based on a recent press release statement from Everspin Technologies, Inc.
In other recent news, Everspin Technologies, a notable developer and manufacturer of magnetoresistive random access memory (MRAM), has appointed William "Bill" Cooper as its new Chief Financial Officer. Cooper, with his two decades of experience in the semiconductor industry, brings to Everspin a rich background, having served in various executive roles at Advanced Micro Devices (NASDAQ:AMD), Inc., including Director of Financial Planning and Analysis. His career also includes a tenure as CFO for the Data Division of Volex plc and financial management positions in the medical device sector as well as PricewaterhouseCoopers LLP.
This development follows the acknowledgment of Matt Tenorio for his service as Interim CFO since July 2024. Tenorio will remain a part of the company’s finance team to ensure a smooth transition. These are recent developments in the company’s leadership structure as Everspin continues to focus on growth and profitability within its sector.
President and CEO of Everspin, Sanjeev Aggarwal, expressed confidence in Cooper’s ability to contribute to the company’s growth and profitability. Cooper also voiced his excitement about joining the team during a pivotal time for the company’s expansion and securing additional design wins. Notably, these expectations are not the author’s but come from the company’s leadership and the newly appointed CFO himself.
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