Added to YB: 2026-04-29
Pitch date: 2026-04-28
MRAM [neutral]
Everspin Technologies, Inc.
Author Info
No bio for this author
Company Info
Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory (MRAM) technologies in the United States, Japan, Hong Kong, Germany, Singapore, Canada, and internationally.
Market Cap
$327.8M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-77.55
P/E
-469.00
EV/Sales
5.19
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Everspin Write-up w/Mgmt Analysis (MRAM).
MRAM (overview): Niche MRAM semiconductor w/ strategic positioning in persistent memory, aerospace/defense, industrial. 238 design wins (vs 178 in '24), 64Mb/128Mb/256Mb xSPI STT-MRAM qualifying. FY25 rev $55M (+10% YoY), product sales +14%. Mgmt targets $100M+ by FY29 vs consensus $70M FY28. Stock at $14, up 157% YoY, trades 4.7x FY26 EV/sales, 50x FY26 adj EPS. Needham PT $14. Bull case: NOR shortage drives socket wins, design wins convert, domestic mfg w/ Microchip (2H27). Bear case: slow adoption, Avalanche STT patent litigation (ITC action), high SBC dilution (23% overhang), lumpy licensing rev. Mgmt strong on tech execution (CEO deep MRAM/process experience), weak on scale/commercial proof. Upside if $100M materializes & 4-5x EV/sales holds = $18-$22; downside if 3x multiple & slow growth = $10-$11. Q1 results Apr 29 key catalyst for design-win conversion, xSPI traction, litigation clarity.
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