Everspin Technologies transferred with Buy rating at Needham

Needham kept a Buy rating on Everspin Technologies (MRAM) with an $8 price target following a transfer of coverage. The company’s product revenue continues to trend higher, driven by existing Spin-transfer Torque and Toggle design wins, the analyst tells investors in a research note. The firm says Everspin is working with multiple licensing partners in various stages of development, generating high-margin revenues with future foundry and/or royalty optionality. Needham views satellites as a natural fit for the company’s technology and believes its recent product announcements can drive greater opportunities in 2026.