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Sanjeev Aggarwal, President and CEO of Everspin Technologies Inc . (NASDAQ:MRAM), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Aggarwal sold 35,142 shares of common stock on March 7, 2025. The shares were sold at an average price of $5.37 each, amounting to a total transaction value of $188,712. The company, currently valued at $116.7 million, maintains a strong balance sheet with a current ratio of 6.48, indicating robust liquidity.
The sales were conducted under a pre-established Rule 10b5-1 trading plan, which was set up on December 6, 2024. Following this transaction, Aggarwal retains ownership of 654,828 shares in the company. The shares were sold at prices ranging from $5.33 to $5.49 per share. According to InvestingPro analysis, the stock appears slightly undervalued at current levels, with additional insights available in the comprehensive Pro Research Report.
Everspin Technologies, based in Chandler, Arizona, is known for its work in the semiconductor industry, focusing on magnetic random-access memory (MRAM) technologies. The company has maintained profitability over the last twelve months, despite a challenging market environment that has seen its stock decline 18.15% year-to-date.
In other recent news, Everspin Technologies reported impressive earnings for the fourth quarter of 2024, with earnings per share (EPS) of $0.05, surpassing the anticipated loss of $0.03. The company’s revenue also exceeded expectations, reaching $13.2 million compared to the forecasted $12.7 million. Additionally, Everspin has partnered with Purdue University on a $10.5 million AI research initiative named CHEETA, with the current phase valued at approximately $4 million. This collaboration aims to advance MRAM technology for energy-efficient AI solutions. Analysts did not provide any specific upgrades or downgrades, but the company’s strategic focus on expanding its MRAM product line and partnerships was noted. Everspin’s gross margin for the quarter was reported at 51.3%, with full-year revenue declining 21% year-over-year to $50.4 million. Despite this decline, the company remains optimistic about its future, highlighting ongoing partnerships and new product launches as key growth drivers for 2025.
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