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—
- Extreme Insider Selling—
- Earnings Beat Consistency—
- +1 more pillar — see the Why tab for full reasoning
Everspin Technologies, Inc. (MRAM) Stock Analysis
Technology · Semiconductors
Sell if holding. Engine safety override at $19.12: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.1/10. Specifically: High short interest: 15%; Elevated put/call ratio: 2.29; Below-average business quality.
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
Sell if holding. Engine safety override at $19.12: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.1/10. Specifically: High short interest: 15%; Elevated put/call ratio: 2.29; Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Score 6.1/10, moderate confidence.
Passes 5/8 gates (positive momentum, news events none recent, earnings proximity 86d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and clean insider activity. 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.
From Everspin Technologies, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-08-17Recent Developments — Everspin Technologies, Inc.
Latest news
- NEWS QUICK SPARK: Semiconductor Traders Get New 2X ETFs on Everspin, SiTime and UMC — benzinga Aug 13, 2026 neutral
Generated 2026-08-17T13:27:13Z.
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.
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Technicals below the gate floor. Component breakdown shows what dragged the score down.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
Sell if holding. Engine safety override at $19.12: Quality below floor (3.4 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.1/10. Specifically: High short interest: 15%; Elevated put/call ratio: 2.29; Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $17.56. Score 6.1/10, moderate confidence.
Take-profit target: $21.82 (+15.6% upside). Prior stop was $17.56. Stop-loss: $17.56.
Concentration risk — Supplier: GLOBALFOUNDRIES; Quality below floor (3.4 < 4.0).
Everspin Technologies, Inc. trades at a P/E of N/A (forward 39.1). TrendMatrix value score: 6.2/10. Verdict: Sell.
9 analysts cover MRAM with a consensus score of 4.1/5. Average price target: $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%.