Everspin's Q1 2026 earnings soar as Microchip deal secures US production future
Everspin Technologies has announced a strong start to 2026, with first-quarter earnings per share hitting $0.11 on revenue of $14.87 million. The company also secured a long-term manufacturing deal with Microchip Technology, boosting its production capabilities in the US. In early May, Everspin’s share price reached a high of $23.10, though executives sold around $796,000 worth of stock during the same period. The company’s financial results for Q1 2026 showed a net margin of 0.50% and a return on equity of 4.78%.
Everspin has finalised a 10-year production agreement with Microchip Technology, focusing on MRAM manufacturing at a facility in Oregon. The partnership allows for extensions in two-year increments beyond the initial term. Under the deal, Everspin retains full control over its intellectual property and manufacturing processes. The first shipments from the Oregon plant are expected in the second half of 2027. Meanwhile, analysts currently rate Everspin as a *Hold*, with an average price target of $18.50. For the second quarter of 2026, the company forecasts earnings per share between $0.000 and $0.030.
The agreement with Microchip Technology strengthens Everspin’s position in US-based MRAM production. With initial shipments planned for late 2027, the company aims to expand its market presence while maintaining financial stability. Analysts and investors will be watching closely as the partnership progresses.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
- Inspired & Paddy Power Extend Virtual Sports Partnership for UK & Ireland Retail
- South West & South East England: Check & Object to Lorry Operator Licensing Now
