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David Schrenk, Vice President of Sales and Business Development at Everspin Technologies (NASDAQ:MRAM), has sold 377 shares of the company’s common stock. The transaction, which took place on March 11, 2025, was executed at a price of $5.24 per share, resulting in a total sale value of $1,975. InvestingPro analysis shows the stock currently trades at a high P/E multiple of 146x, with additional insights available in the comprehensive Pro Research Report.
According to the filing, the sale was conducted solely to cover taxes due upon the vesting of Restricted Stock Units. Following this transaction, Schrenk retains ownership of 138,595 shares of Everspin Technologies. Technical indicators from InvestingPro suggest the stock is currently in oversold territory, with the next earnings report scheduled for April 30, 2025.
In other recent news, Everspin Technologies reported its fourth-quarter 2024 earnings, surpassing analyst expectations. The company achieved earnings per share of $0.05, outperforming the anticipated loss of $0.03. Revenue for the quarter reached $13.2 million, exceeding the forecasted $12.7 million. In other developments, Everspin has partnered with Purdue University on a $10.5 million AI research initiative, contributing its MRAM technology to the CHEETA project. This collaboration is expected to explore energy-efficient AI solutions using Everspin’s technology. Additionally, the company has been focusing on expanding its MRAM product line and partnerships, including a strategic collaboration with Lattice (OTC:LTTC) Semiconductor. These recent developments highlight Everspin’s ongoing efforts to advance its technology and maintain strategic growth.
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