11 Best Data Storage Stocks to Invest in According to Analysts

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3. Everspin Technologies Inc. (NASDAQ:MRAM)

Average Upside Potential as of March 28: 77.87%

Number of Hedge Fund Holders: 5

Everspin Technologies Inc. (NASDAQ:MRAM) manufactures and sells magnetoresistive random access memory (MRAM) technologies. This is a form of non-volatile data storage. The company offers several MRAM products like Toggle and spin-transfer torque MRAM. Its products cater to data-intensive applications across diverse industries.

The company’s MRAM products are designed to replace traditional flash memory for reliable and high-performance data storage. In Q4 2024, the company made a revenue of $13.2 million which was driven by strong product sales. This reached $11 million with contributions from the company’s RadHard projects. The company secured 178 design wins in 2024 and is shipping 256 megabits to one-gigabit parts with DDR-like interfaces.

Everspin Technologies Inc. (NASDAQ:MRAM) is seeing significant traction in the RadHard market. It has secured contracts with Purdue University and QuickLogic. The company is also supplying MRAM to IBM for its Flash Core Module 4 (FCM 4) data center applications. For 2025, the company expects higher revenue to be generated in H2 2025. Q1 revenue alone is projected between $12 and $13 million.

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