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LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors.com has just released a free research report on Everspin Technologies, Inc. (NASDAQ: MRAM) ("Everspin"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MRAM as the Company's latest news hit the wire. On March 19, 2018, the Company, which is the world's leading developer and manufacturer of discrete and embedded magnetoresistive random access memory (MRAM), announced that it has entered into a multi-year worldwide licensing agreement with Alps Electric Co., Ltd ("Alps Electric"), a manufacturer of 3D magnetic sensors. Under the agreement, Alps Electric and Everspin would mutually grant licenses to magnetoresistive-based 3D sensor patent portfolio for magnetoresistive sensor products. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Everspin Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=MRAM
The Announcement
According to Everspin, the terms of the agreement include an up-front license fee to Everspin in addition to future royalties. However, specific financial terms of the agreement were not disclosed. Everspin's portfolio spans across over 500 worldwide patents and applications covering its magnetoresistive technology, where the agreement would further expand the Company's existing group of memory and sensor licenses. Reportedly, Everspin was recognized by IEEE in its Patent Power 2017 report as having one of the world's top 20 most valuable patent portfolios for semiconductor manufacturing. According to Everspin, its magnetoresistive patent portfolio is valuable to multiple significant market applications beyond the core focus in magnetoresistive theory.
Alps Electric, is a leading global manufacturer of high-quality electronic components for mobile devices, home electronics, vehicles, and industrial equipment. Alps Electric currently supplies over 40,000 different components to about 2,000 companies across the world. Everspin, on the other hand, is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded MRAM into markets and applications where data persistence, performance, and endurance are crucial. The Company has more than 70 million MRAM products deployed in data center, cloud storage, energy, industrial, automotive, and transportation markets. Everspin has built the strongest and fastest-growing foundation of MRAM users in the world according to the press release.
Company Growth Prospects
Prior to the announcement, on March 15, 2018, Eversping reported its Q4 FY17 and full year FY17 results for the period ended December 31, 2017. The Company reported record revenues and improved margins driven by a 27% y-o-y increase in MRAM product revenues, largely from its Toggle products. The Company further added that it made progress on several strategic priorities, including 256Mb STT-MRAM, with the start of production and first recognized revenues in Q4 FY17.
In order to raise the necessary capital for executing the strategy, Everspin raised about $24.5 million, after underwriter fees, through a secondary public stock offering in February 2018. The Company further added that the funds would be used as working capital to support ongoing operations and scale production, while developing both new products and future advanced MRAM technology. For Q1 FY18, Everspin stated that it expects revenues to range between $9.4 million and $9.8 million.
Stock Performance Snapshot
March 20, 2018 - At Tuesday's closing bell, Everspin Technologies' stock dropped 4.26%, ending the trading session at $8.10.
Volume traded for the day: 85.89 thousand shares.
Stock performance in the last month – up 5.61%; previous three-month period – up 21.08%; past twelve-month period – up 0.87%; and year-to-date - up 8.00%
After yesterday's close, Everspin Technologies' market cap was at $117.61 million.
The stock is part of the Technology sector, categorized under the Semiconductor- Memory Chips industry.
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