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Everspin technologies VP sells shares valued at $14,979

Published 05/03/2025, 00:06
Everspin technologies VP sells shares valued at $14,979
MRAM
2.52%

David Schrenk, the Vice President of Sales and Business Development at Everspin Technologies Inc . (NASDAQ:MRAM), a profitable technology company with a market capitalization of $122 million and a strong balance sheet, recently sold 2,675 shares of the company’s common stock. The shares were sold at a price of $5.60 each, amounting to a total transaction value of $14,979. Following this sale, Schrenk retains ownership of 138,972 shares. According to a footnote in the filing, the shares were sold solely to cover taxes due upon the vesting of Restricted Stock Units. The stock currently trades at a significant premium with a P/E ratio of 153, though analysts maintain bullish targets between $8 and $10. InvestingPro analysis reveals 6 additional key insights about MRAM’s financial health and growth prospects.

In other recent news, Everspin Technologies reported its fourth-quarter 2024 financial results, exceeding earnings expectations. The company posted an earnings per share (EPS) of $0.05, outperforming the anticipated loss of $0.03. Revenue for the quarter was $13.2 million, surpassing the forecast of $12.7 million. Everspin’s gross margin stood at 51.3%, and the company ended the quarter with cash and cash equivalents totaling $42.1 million, an increase of $2.5 million from the previous quarter. For the full year 2024, Everspin’s revenue was $50.4 million, marking a 21% year-over-year decline. Looking ahead, the company has guided for first-quarter 2025 revenue between $12 million and $13 million, with an expected GAAP net loss per share ranging from -$0.10 to -$0.05. Analyst firm Craig Hallum engaged with Everspin’s executives during an earnings call, discussing ongoing projects and future revenue potential. The company continues to focus on expanding its MRAM product line and partnerships, which are expected to drive growth in the latter half of 2025.

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