
Everspin Technologies (MRAM) Stock Forecast & Price Target
Everspin Technologies (MRAM) Analyst Ratings
Bulls say
Everspin Technologies Inc. is anticipated to experience a modest but steady increase in product revenue, with projections indicating a growth of +3.2% quarter-over-quarter, driven primarily by the ramp-up of high-density STT-MRAM applications at IBM. For the second half of 2024, revenue is expected to continue climbing, bolstered by a normalization of customer inventory levels and the successful execution of design wins, forecasting sequential growth rates of +12.7% and +4.0% for the third and fourth quarters, respectively. Additionally, the company benefits from a favorable outlook due to stronger-than-expected adoption of STT-MRAM technology, alongside significant licensing agreements that are projected to contribute to quicker revenue realization.
Bears say
Everspin Technologies Inc. has issued revenue guidance for 4Q24 of $12.5 million, reflecting a significant year-over-year decline of 25.2% and concerns over gross margins that resulted in an earnings per share miss. The company is experiencing a continued decline in Toggle MRAM revenue, influenced by macroeconomic challenges affecting demand in the industrial and automotive sectors, while also contending with inventory reductions by distributors and adverse currency effects in the Asia-Pacific region. Additionally, Everspin's outlook for revenue growth remains cautious, with reduced estimates for the following quarters driven by weaker gross margins, a slowdown in product sales, and increased operational expenses amidst competitive pressures in the MRAM market.
This aggregate rating is based on analysts' research of Everspin Technologies and is not a guaranteed prediction by Public.com or investment advice.
Everspin Technologies (MRAM) Analyst Forecast & Price Prediction
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