Everspin Technologies, Inc. (MRAM) Stock Analysis

Why this analysis is different

• A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Everspin Technologies, Inc. (MRAM) Technology Profile & Competitive Position

Everspin Technologies, Inc. is a manufacturer of magnetoresistive random access memory (MRAM) solutions, serving diverse markets including data centers, industrial, and automotive sectors. With a focus on Toggle MRAM and spin-transfer torque MRAM, the company operates globally, offering both products and foundry services, distinguishing itself through specialized memory technologies.

What Is the Investment Thesis for MRAM?

Everspin Technologies, Inc. presents a focused investment opportunity within the niche MRAM market. The company's specialization in MRAM technology, catering to sectors like data centers, industrial, and automotive, positions it to benefit from the increasing demand for high-performance, non-volatile memory solutions. With a gross margin of 51.5%, Everspin demonstrates its ability to maintain profitability in a competitive landscape. Upcoming catalysts include the potential expansion of MRAM adoption in automotive and industrial applications, driven by the need for reliable memory in harsh environments. Key risks include the company's relatively small size and the potential for larger semiconductor companies to enter or expand their presence in the MRAM market. Investors should monitor Everspin's ability to scale production and maintain its technological advantage to fully capitalize on growth opportunities.

Based on FMP financials and quantitative analysis

MRAM Key Highlights

Market capitalization of $409M indicates a relatively small but focused player in the semiconductor industry.

• P/E ratio of 1308.4 suggests high investor expectations for future earnings growth.
• Gross margin of 51.5% reflects strong pricing power and efficient cost management in its specialized MRAM market.
• Beta of 0.94 indicates that the stock is slightly less volatile than the overall market.
• Profit margin of 0.5% indicates room for improvement in operational efficiency and profitability.

Who Are MRAM's Competitors?

MRAM is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are MRAM's Key Strengths?

Specialized expertise in MRAM technology.

• Proprietary technology and intellectual property.
• Established relationships with key customers.
• Diverse application markets (data center, industrial, medical, automotive).

What Are MRAM's Weaknesses?

Relatively small size compared to larger semiconductor companies.

• Limited financial resources for aggressive expansion.
• High P/E ratio indicates high investor expectations.
• Profit margin of 0.5% indicates low profitability.

What Could Drive MRAM Stock Higher?

MRAM catalyst: Increasing adoption of MRAM in automotive applications due to its reliability and performance in harsh environments.

• Expansion of MRAM usage in industrial automation driven by Industry 4.0 initiatives.
• Growth in data center applications requiring high-performance, low-latency memory solutions.
• Potential new design wins with major OEMs in target markets.
• Launch of new MRAM products with enhanced performance and features.

What Are the Key Risks for MRAM?

Negative return on equity (-3.8%) — the business is not currently generating profit on shareholder capital.

• Inconsistent delivery — missed Wall Street EPS estimates in 6 of the last 8 reported quarters.
• Rich valuation — a P/E of 1308.4 runs well above the Technology sector’s ~34x, leaving little room for a miss.
• Competition from larger semiconductor companies with greater resources.
• Technological advancements that could render MRAM obsolete.
• Cyclical demand patterns in the semiconductor industry.
• Economic downturns that could reduce demand for MRAM products.
• Dependence on key customers and suppliers.

What Are the Growth Opportunities for MRAM?

• Expansion in the Automotive Sector: The increasing adoption of advanced driver-assistance systems (ADAS) and electric vehicles (EVs) creates a significant growth opportunity for Everspin's MRAM solutions. MRAM's non-volatility and high-speed performance make it well-suited for critical automotive applications, such as data logging and control systems. The automotive semiconductor market is projected to reach $68 billion by 2026, providing a substantial addressable market for Everspin. Timeline: Ongoing.
• Penetration of the Industrial Automation Market: The industrial automation sector is undergoing a transformation driven by Industry 4.0 initiatives, which require reliable and high-performance memory solutions. Everspin's MRAM products can be used in programmable logic controllers (PLCs), industrial PCs, and other automation equipment. The global industrial automation market is expected to reach $350 billion by 2027, offering a significant growth opportunity for Everspin. Timeline: Ongoing.
• Adoption in Data Center Applications: Data centers are increasingly demanding high-performance, low-latency memory solutions to support demanding workloads such as artificial intelligence (AI) and machine learning (ML). Everspin's MRAM can be used in storage class memory (SCM) and other data center applications. The data center memory market is projected to reach $25 billion by 2028, providing a substantial growth opportunity for Everspin. Timeline: Ongoing.
• Growth in Medical Devices: The medical device industry requires reliable and non-volatile memory solutions for critical applications such as implantable devices and diagnostic equipment. Everspin's MRAM products can be used in these applications due to their high reliability and low power consumption. The global medical device market is expected to reach $600 billion by 2028, offering a growing market for Everspin's MRAM solutions. Timeline: Ongoing.
• Expansion of Foundry Services: Everspin offers foundry services for embedded MRAM, allowing other companies to integrate MRAM technology into their products. This provides a revenue stream and expands the reach of Everspin's technology. The embedded memory market is projected to reach $10 billion by 2027, presenting a significant opportunity for Everspin to grow its foundry business. Timeline: Ongoing.

What Are MRAM's Competitive Advantages?

• Specialized MRAM Technology: Everspin's focus on MRAM technology provides a competitive advantage over companies offering more general memory solutions.
• Proprietary Technology: Everspin has developed proprietary MRAM technologies that are difficult to replicate.
• Established Customer Relationships: Everspin has established relationships with key customers in its target markets.
• Foundry Services: Offering foundry services for embedded MRAM expands the reach of Everspin's technology and creates a barrier to entry for competitors.

What Does MRAM Do?

Incorporated in 2008 and headquartered in Chandler, Arizona, Everspin Technologies, Inc. has established itself as a key player in the magnetoresistive random access memory (MRAM) market. The company's foundation lies in the development and commercialization of advanced MRAM technologies, offering both Toggle MRAM and spin-transfer torque MRAM solutions. These products cater to a range of applications across various industries, including data centers, industrial automation, medical devices, automotive systems, and aerospace. Everspin's product portfolio includes discrete MRAM chips and embedded MRAM solutions, providing customers with options for both standalone memory and integrated memory within larger systems. The company operates through a direct sales channel and a network of representatives and distributors, serving original equipment manufacturers (OEMs) and original design manufacturers (ODMs) globally. Geographically, Everspin has a presence in the United States, Hong Kong, Japan, China, and Canada, reflecting its international reach and customer base. Over the years, Everspin has focused on innovation and product development, continuously enhancing its MRAM technology to meet the evolving needs of its target markets. This commitment to technological advancement has allowed the company to maintain a competitive edge in the specialized memory solutions landscape. With a focus on providing high-performance, non-volatile memory solutions, Everspin aims to capitalize on the growing demand for advanced memory technologies in various applications.

What Products and Services Does MRAM Offer?

• Manufactures Toggle MRAM products.
• Produces spin-transfer torque MRAM.
• Offers tunnel magneto resistance sensor products.
• Provides foundry services for embedded MRAM.
• Serves the data center market with high-performance memory solutions.
• Supplies memory solutions for industrial applications.
• Offers MRAM products for medical devices.
• Provides memory solutions for the automotive/transportation sector.

How Does MRAM Make Money?

• Sells discrete MRAM chips to OEMs and ODMs.
• Provides embedded MRAM solutions for integration into larger systems.
• Generates revenue through direct sales and a network of distributors.
• Offers foundry services for companies seeking to integrate MRAM into their products.

What Industry Does MRAM Operate In?

Everspin Technologies, Inc. operates within the semiconductor industry, specifically focusing on the magnetoresistive random access memory (MRAM) segment. The semiconductor industry is characterized by rapid technological advancements, intense competition, and cyclical demand patterns. The MRAM market is a niche segment within the broader memory market, offering advantages such as non-volatility, high speed, and endurance. Everspin's focus on MRAM positions it to capitalize on the growing demand for advanced memory solutions in applications such as data centers, industrial automation, and automotive systems. The competitive landscape includes both established memory manufacturers and emerging players specializing in non-volatile memory technologies.

Who Are MRAM's Key Customers?

• Original equipment manufacturers (OEMs) in the data center market.
• Original design manufacturers (ODMs) in the industrial sector.
• Companies in the medical device industry.
• Automotive and transportation equipment manufacturers.

Everspin Technologies, Inc. (MRAM) Valuation Context

Valued at $409M, MRAM is classified as a small-cap stock. Relative to its peer group, MRAM's quantitative score of 34/100 is below the peer average of 77/100.

MRAM Revenue & Earnings Trend

In Q2 2026, MRAM generated $18.7M in top-line revenue, marking a sequential increase of 26.0%. The company recorded a net loss of $3.6M, with diluted EPS of $-0.15. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this small-cap Technology company. Across the four most recent quarters, MRAM averaged $-0.03 in diluted EPS.

Company Profile

Everspin Technologies, Inc. operates in the Semiconductors industry within the Technology sector. It is headquartered in Chandler, US. The company is led by CEO Sanjeev Aggarwal. MRAM has traded publicly since 2016.

Return on equity for Everspin Technologies, Inc. stands at -3.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -2.9%, showing how much profit it generates from its asset base. Its free cash flow yield is -2.3%, a gauge of the cash the business throws off relative to its market value. A current ratio of 4.74 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -0.7%, the inverse of the P/E and a quick read on earnings relative to price.

Everspin Technologies, Inc.'s Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 15.06 places it in the safe zone, indicating low near-term bankruptcy risk.

Everspin Technologies, Inc. has missed Wall Street's EPS estimate in 6 of its last 8 reported quarters — a recurring pattern of falling short of estimates. Reported results have landed about 110.8% above estimates on average.

Wall Street analysts project Everspin Technologies, Inc. revenue of about $73.0M for fiscal 2026, with EPS near $-0.11. The estimate reflects 3 contributing analysts.

Over the past six months, Everspin Technologies, Inc. insiders filed 29 SEC Form 4 transactions — 16 sales and 13 purchases. On net that is roughly 366K shares disposed (about $13.2M), a signal worth weighing alongside the fundamentals.

MRAM Financials

MRAM Latest News

MRAM Analyst Consensus

MRAM MoonshotScore

Everspin Technologies, Inc. Technology Stock: Key Questions Answered

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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