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CHANDLER, AZ—Matthew Tenorio, the Interim Chief Financial Officer of Everspin Technologies Inc . (NASDAQ:MRAM), a $145 million market cap semiconductor company, has recently sold a portion of his holdings in the company. According to InvestingPro analysis, the company maintains a FAIR financial health score and currently trades near its Fair Value. According to a filing with the Securities and Exchange Commission, Tenorio sold 1,695 shares of common stock on January 3, 2025, at an average price of $6.29 per share. The total value of the transaction amounted to $10,661.
Following the sale, Tenorio retains ownership of 14,228 shares in the semiconductor firm. The transaction was conducted to cover taxes due upon the vesting of Restricted Stock Units, as noted in the filing.
In other recent news, Everspin Technologies reported surpassing market expectations for earnings per share (EPS) in Q3, with an EPS of $0.10. The company also announced a revenue of $12.1 million, in line with its guidance. Significant collaborations have been noted, including the integration of Everspin's STT-MRAM technology into IBM (NYSE:IBM)'s FlashCore Module 4 and Lucid Motors (NASDAQ:LCID)' Gravity SUV. Despite a year-over-year decline in revenue and gross margin, the company achieved a net income of $2.3 million. Everspin secured a $9.25 million contract with Frontgrade Technologies and anticipates growth in STT-MRAM product revenue. Projected Q4 revenue is between $12 million and $13 million, aiming for positive GAAP net income. These are recent developments that highlight the company's growth in high-value sectors and its strong financial position.
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