Everspin Signs Long-Term MRAM Foundry Deal With Microchip

Everspin Technologies ( (MRAM) ) just unveiled an announcement.

On April 8, 2026, Everspin Technologies entered a 10‑year strategic foundry services agreement with Microchip Technology to manufacture 8‑inch MRAM, TMR sensor and STT‑MRAM wafers at Microchip’s Fab 4 in Gresham, Oregon, with automatic two‑year renewals. The deal establishes a copy‑exact MRAM line mirroring Everspin’s Chandler, Arizona production, supported by cross‑licensing of foreground intellectual property while preserving each party’s ownership of existing technologies.

Under the agreement, Everspin will reimburse Microchip an estimated $13.95 million in two phases for tooling relocation, installation, engineering and qualification, with minimum wafer purchase commitments ramping to 1,300 wafers per quarter and cash shortfall payments if volumes are not met. The expanded on‑shore capacity, ITAR‑capable processing, and a second U.S. manufacturing source are intended to bolster long‑term supply resilience, support projected MRAM demand growth and give Everspin additional room to advance its MRAM roadmap, with first products from the Oregon line expected to ship in the second half of 2027.

The most recent analyst rating on (MRAM) stock is a Hold with a $9.50 price target. To see the full list of analyst forecasts on Everspin Technologies stock, see the MRAM Stock Forecast page.

Spark’s Take on MRAM Stock

According to Spark, TipRanks’ AI Analyst, MRAM is a Neutral.

The score is primarily supported by a strong balance sheet and positive cash generation, reinforced by generally constructive earnings-call momentum and stable guidance. These positives are tempered by a weak technical trend and profitability/valuation headwinds, with earnings still pressured versus prior years.

To see Spark’s full report on MRAM stock, click here.

More about Everspin Technologies

Everspin Technologies, Inc., headquartered in Chandler, Arizona, is the world’s leading provider and developer of persistent Magnetoresistive RAM (MRAM) solutions. The company supplies high‑performance, non‑volatile MRAM and Tunnel Magnetoresistive (TMR) sensor products for industrial, data center, automotive, aerospace and other mission‑critical markets where data persistence and long‑term supply continuity are essential.

The company leverages more than twenty years of MRAM production experience at its Chandler, Arizona facility, co‑located with NXP, as a benchmark for process stability and quality. Everspin serves a large and diverse global customer base and focuses on advancing MRAM densities and capabilities to address next‑generation workloads and demanding regulatory environments such as ITAR‑sensitive applications.

Average Trading Volume: 702,164

Technical Sentiment Signal: Buy

Current Market Cap: $234.7M

See more insights into MRAM stock on TipRanks’ Stock Analysis page.