Everspin Technologies price target lowered to $10 from $11 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Everspin Technologies to $10 from $11 and keeps a Buy rating on the shares. The firm says Everspin “scared us with its 2Q24 sales guidance in the PR,” which was well worse than Craig-Hallum had thought. But then the firm learned that it was mostly from the major rad-hard programs, which it believes is highly likely to renew.