New York, May 16, 2026, 16:02 (EDT)
- Everspin shares lost 7.5% to end Friday at $37.57 and slipped again after the bell to $37.00. But for the week, the stock finished about 39% above its May 8 close.
- Director Glen Hawk sold 48,563 shares, an SEC filing showed Friday. The stock has seen heavy volume.
Everspin Technologies shares slipped Friday after some choppy trading, but the stock still posted a sharp weekly advance. The small-cap semiconductor name stayed active with memory-chip traders.
Shares fell 7.53% to $37.57 on Friday and slid to $37.00 after the bell. The stock had closed at $26.99 a week ago, so even with losses in the last three sessions, it’s up close to 39% this week.
Everspin shares are in the spotlight with traders weighing the recent set of defense contracts, fresh manufacturing news, and earnings. The company builds MRAM, or magnetoresistive random access memory chips, which hold data without power. That keeps Everspin in the mix with industrial, aerospace, auto and data center buyers concerned with data loss.
Stocks sold off again as the market stayed heavy. The Nasdaq Composite dropped 1.5% Friday. The Russell 2000 slid 2.4%. Tech led the way down from record levels.
Everspin stock surged earlier in the week, jumping 47.7% on Monday and gaining 10.4% Tuesday. Shares gave back ground after that, falling 5.8% Wednesday, down another 2.0% Thursday, and losing 7.5% Friday. The stock reached a 52-week high of $51.50 on Wednesday before retreating.
Everspin shares moved higher after the company posted first-quarter results and announced a defense contract. Revenue climbed to $14.87 million, up from $13.14 million. Product sales totaled $14.1 million, compared with $11.0 million last year. Net loss narrowed to $296,000, or 1 cent per share. “Strength in Industrial Automation, Transportation, and Data Center applications,” CEO Sanjeev Aggarwal said. SEC
Everspin is forecasting second-quarter revenue of $15.5 million to $16.5 million but says it will remain unprofitable by standard accounting measures. The company said its outlook leaves out any impact from a new subcontract.
Everspin is working as a subcontractor for Amentum Services on a $40 million deal announced late last month. The company said it will support U.S. government needs for onshore Toggle MRAM production. SEC filings show milestone payments in two phases over 30 months, with project completion expected in November 2028.
Aggarwal said in the contract release that the work ties to programs needing “performance, reliability, longevity and U.S. domestic production.” On the earnings call, CFO Bill Cooper said the subcontract should have a “significant positive impact over the next 2.5 years.” No detailed revenue timing yet from the company. Everspin Technologies Inc.
Hawk unloaded shares in four separate blocks, selling between $37.10 and $39.97, according to a new Form 4. The filing showed 39,551 shares still held after the transactions.
Everspin stays out of the main memory market, instead betting on its own technology to grab more of the supply chain. In April, it struck a deal with Microchip Technology to set up some U.S. foundry work at Microchip’s plant in Oregon. In its filings, Everspin also points to a strategic tie with GlobalFoundries for 300mm STT-MRAM, another MRAM variant.
Everspin ended Friday well below its Wednesday peak, with much of the move looking like traders already priced in gains ahead of real revenue. Management says it can take 18 to 24 months for product qualification with customers. If contract revenue lands later than bulls want, or small-cap tech stays weak Monday, shares may slip more.
Everspin Technologies Inc. isn’t scheduled for any investor events this week. Some traders are eyeing fresh SEC filings and shifts in the Nasdaq. There’s also focus on when the $40 million subcontract and Microchip manufacturing expansion will begin hitting revenue.
