Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory products to customers in the United States and internationally. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage applications.
Everspin Technologies on Dec. 15 announced the resignation of its CEO and President Kevin Conley, effective Jan. 30. Conley has served as CEO of the semiconductor company since 2017. Shares lost 12.7% in Wednesday's pre-market trading. Effective Jan. 30., Everspin Technologies (MRAM) Chairman Darin Billerbeck, who has previously served as the CEO of Lattice Semiconductor and Zilog, will become interim CEO. In addition, Everspin lowered its Q420 revenue guidance to between $10.1 million and $10.5 million, from the range of $10.1 million-$10.9 million provided on Nov. 5. Last month, the company reported Q3 revenue of $10.1 million, which rose 10.3% year-on-year, but missed analysts' estimates by $0.4 million.
NEW YORK, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Everspin Technologies, Inc. (“Everspin” or the “Company”) (NASDAQ: MRAM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980. The investigation concerns whether Everspin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action]On November 5, 2020, post-market, Everspin announced its financial and operating results for the third quarter of 2020. Among other results, Everspin reported GAAP EPS and revenue that fell short of expectations. The Company advised investors that “[t]hird quarter gross margin i...
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