Everspin Hits 52-Week High After Microchip Deal to Boost U.S. MRAM Output

Overview

• - Everspin shares set a new 52-week high as trading picked up following news of a manufacturing partnership with Microchip Technology.
• - The April agreement runs for 10 years with options to extend and puts MRAM and TMR sensor production into Microchip’s Oregon fab while Everspin keeps its process and IP.
• - The plan adds a second onshore source and enables ITAR-compliant wafer work, which U.S. aerospace and defense buyers require for secure supply.
• - Everspin will keep making wafers at its Chandler, Arizona plant and expects the first Oregon-made products to ship in the second half of 2027.
• - Q1 revenue and EPS topped forecasts, but management guided Q2 to near breakeven as analysts stayed split and SEC filings showed recent stock sales by the CEO and CFO.