Everspin shows classic value-trap signals and extreme insider selling despite a positive earnings-surprise track record and a technical pullback the engine flags as a buy opportunity.
Thesis pillars
- Value Trap Margin Compression↑Improving
- Extreme Insider Selling→Stable
- Earnings Beat Consistency↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 5, 2026, based on the 10-K filed Mar 4, 2026· older than 90 days
Everspin Technologies, Inc. (MRAM) Stock Analysis
Inst Constrain edge
Technology · Semiconductors
Hold if already holding. Not a fresh buy at $11.74, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $287M below $400M minimum.
Everspin Technologies designs and manufactures MRAM (Magnetoresistive Random Access Memory) semiconductor products, serving industrial, medical, automotive, aerospace/defense and data-center customers as the leading supplier of discrete MRAM components. The company generated... Read more
Hold if already holding. Not a fresh buy at $11.74, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $287M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $287M below $400M minimum. Not in investable universe. Score 6.1/10, moderate confidence.
Passes 5/8 gates (favorable risk/reward ratio, news events none recent, earnings proximity 116d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: speculative.
About Everspin Technologies, Inc.
About Everspin Technologies, Inc.
Everspin Technologies generated $55.2 million in revenue during 2025 at a 51.2% gross margin, manufacturing Toggle MRAM products at its own 200mm fab in Chandler, Arizona while relying on GLOBALFOUNDRIES to produce its 300mm STT-MRAM wafers under a joint development agreement dating to 2014. The company's two largest end customers together represented 33% of 2025 revenue, with one customer individually exceeding 10%, across a base of more than 1,405 end customers purchasing products during the year. Everspin sells through both direct channels and distributors, concentrated in Asia for contract-manufacturer support.
Everspin earns revenue from direct MRAM component sales to OEMs and ODMs, foundry services for licensed MRAM designs, and licensing and royalty income tied to its intellectual property, including 596 issued patents. Its STT-MRAM products are manufactured exclusively at GLOBALFOUNDRIES' 300mm facilities under an exclusivity arrangement running three to four years past each device's qualification, while Toggle MRAM and BEOL processing for licensed and sensor products remain in-house at Everspin's Chandler facility. The company competes against far larger memory suppliers, including Infineon, Micron, Samsung and Renesas for Toggle MRAM, and against Hynix, Winbond and Samsung for STT-MRAM-based NOR and DRAM replacement applications, competing primarily on reliability, persistence and total cost of ownership rather than price per bit. Sales cycles run three to 18 months from initial engineering engagement to a design win, extending revenue visibility but also delaying the payoff from R&D investment.
Show full overview
Everspin's STT-MRAM product line, an increasingly important growth driver, is entirely dependent on GLOBALFOUNDRIES' 300mm fabrication capacity; the company discloses no second-source foundry for these wafers and notes that GLOBALFOUNDRIES may discontinue manufacturing specific wafers upon notice. Because the joint development and manufacturing agreements with GLOBALFOUNDRIES date to 2014 and were last extended in December 2019 to support 12nm development, any disruption, price renegotiation or capacity reallocation at GLOBALFOUNDRIES could constrain Everspin's ability to scale its highest-density STT-MRAM products even as customer demand grows.
See also: Technology · Semiconductors
From Everspin Technologies, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated Nov 4, 2026Recent Developments — Everspin Technologies, Inc.
Latest news
- NEWS Everspin Technologies CEO Sanjeev Aggarwal Named 'Business Transformation Leader of the Year' — fiscal.ai Nov 4, 2026
- NEWS Everspin Technologies Reports Record Third-Quarter 2026 Financial Results — fiscal.ai Oct 29, 2026
- NEWS ServiceNow Posts Downbeat Q3 Earnings, Joins Sprouts Farmers Market, Alphabet And Other Big Stocks Moving Lower In Thurs — benzinga Oct 29, 2026
- NEWS Everspin Technologies Q3 2026 Earnings Call Transcript — benzinga Oct 28, 2026
- NEWS Everspin Technologies Sees Q4 GAAP EPS $(0.13)-$(0.08) vs $(0.02) Est — benzinga Oct 28, 2026
Latest item Nov 4, 2026 · Generated 2026-11-07T11:37:30Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomertop-2 end customers33%10-K Item 1: 'Our two largest end customers together accounted for 33% of our total revenue for the year ended December 31, 2025 and one of these customers accounted for more than 10% of our revenue during that period.'
- HIGHSupplierGLOBALFOUNDRIES10-K Item 1: 'Our STT-MRAM products are produced in 300mm fabrication facilities operated by GLOBALFOUNDRIES.'
Material Events(8-K, last 90d)
- 2026-05-22Item 5.02LOWOn May 21, 2026 shareholders approved an amendment and restatement of Everspin's 2016 Equity Incentive Plan, adding 1,800,000 shares available for issuance. Routine compensation-plan amendment; no executive departure or governance dispute cited.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Hyper-growth tech sacrificing current profitability for scale. Floor tripped because model treats negative margins uniformly; the growth dimension tells the other half of the story.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $11.74, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $287M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $287M below $400M minimum. Not in investable universe. Analyst target $21.68 (+84.6%), stop $10.92 (−7.5%), A.R:R 5.6:1. Score 6.1/10, moderate confidence.
Analyst target: $21.68 (+84.6% upside). Analyst target $21.68 (+84.6%), stop $10.92 (−7.5%), A.R:R 5.6:1. Stop-loss: $10.92.
Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $287M below $400M minimum; Value-trap signals (2/5): High leverage (D/E 9.7), Material insider selling (13 sells, 0.12% of cap).
Everspin Technologies, Inc. trades at a P/E of N/A (forward 20.4). TrendMatrix value score: 8.1/10. Verdict: Hold.
10 analysts rate MRAM, with a consensus score of 4.1/5. 4 analysts publish price targets averaging $26.
What does Everspin Technologies, Inc. do?Everspin Technologies designs and manufactures MRAM (Magnetoresistive Random Access Memory) semiconductor products,...
Everspin Technologies designs and manufactures MRAM (Magnetoresistive Random Access Memory) semiconductor products, serving industrial, medical, automotive, aerospace/defense and data-center customers as the leading supplier of discrete MRAM components. The company generated $55.2 million in revenue and 51.2% gross margin for 2025, earning income from direct product sales plus licensing and royalty revenue from partners such as GLOBALFOUNDRIES. Its two largest end customers together accounted for 33% of 2025 revenue, with one customer individually exceeding 10%.