Everspin Technologies price target lowered to $8 from $12 at Needham

Needham lowered the firm’s price target on Everspin Technologies to $8 from $12 and keeps a Buy rating on the shares. The company’s Q1 topline was solid but its Q2 guide was a miss as its Licensing wins are not yet confirmed, the analyst tells investors in a research note. Multiple headwinds – macro, inventory, and Yen weakness – are taking down the firm’s Product estimates, Needham added.