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→Stable
- Extreme Insider Selling→Stable
- Earnings Beat Consistency→Stable
- +1 more pillar — see the Why tab for full reasoning
Everspin Technologies, Inc. (MRAM) Stock Analysis
Technology · Semiconductors
Hold if already holding. Not a fresh buy at $15.20, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $354M 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 $15.20, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $354M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $354M below $400M minimum. Not in investable universe. Score 5.4/10, moderate confidence.
Passes 5/8 gates (positive momentum, favorable risk/reward ratio, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on 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.
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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.
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
1 floor-breaker
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $15.20, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $354M below $400M minimum. Chart setup: No clear chart pattern; technical signals are mixed. Market cap $354M below $400M minimum. Not in investable universe. Target $20.97 (+38.0%), stop $14.15 (−7.4%), A.R:R 2.5:1. Score 5.4/10, moderate confidence.
Take-profit target: $20.97 (+37.8% upside). Target $20.97 (+38.0%), stop $14.15 (−7.4%), A.R:R 2.5:1. Stop-loss: $14.15.
Concentration risk — Supplier: GLOBALFOUNDRIES; Market cap $354M below $400M minimum.
Everspin Technologies, Inc. trades at a P/E of 1509.0 (forward 32.3). TrendMatrix value score: 6.2/10. Verdict: Hold.
8 analysts cover MRAM with a consensus score of 4.1/5. Average price target: $25.
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%.