The partnership with a major foundry player like Microchip validates Everspin's technology and provides scalable manufacturing capacity, which could accelerate MRAM adoption in industrial, data center, and aerospace applications. Traders should monitor progress toward the 2027 production timeline and any signs of customer design wins.
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Executive Summary
Everspin Technologies entered into a 10-year foundry agreement with Microchip Technology to manufacture MRAM, TMR sensor, and STT-MRAM wafers at Microchip's Oregon facility, with Everspin reimbursing $13.95 million in setup costs. The deal expands on-shore production capacity and secures long-term supply, with first shipments expected in late 2027.
Key Financial Metrics
Key Facts
- Everspin and Microchip entered a 10-year foundry agreement with automatic 2-year renewals
- Microchip will manufacture 8-inch MRAM, TMR sensor, and STT-MRAM wafers at its Gresham, Oregon facility
- Everspin will reimburse Microchip $13.95 million in two phases for setup costs
- Capacity for Toggle and Sensor flows expected in 18 months; STT flows in 30 months
- Everspin expects first products from the collaboration to ship in the second half of 2027
- Agreement includes minimum purchase commitments ramping to 1,300 wafers per quarter
- Microchip is restricted from manufacturing TMR devices for Everspin's competitors during and for 2 years after the term
Financial Impact
Everspin to pay $13.95 million in setup costs; no revenue or earnings figures disclosed
Risk Factors
- Execution risk in transferring and qualifying processes at Microchip's facility
- Potential cost overruns as relocation and installation estimates are subject to adjustment
- Minimum purchase commitments create financial obligation even if demand falls short
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-024696 |
| Document: mram-20260408xexx991.htm | 0001628280-26-024696 |
| Document: 0001628280-26-024696-index-headers.html | 0001628280-26-024696 |
| Document: 0001628280-26-024696-index.html | 0001628280-26-024696 |
| Document: 0001628280-26-024696.txt | 0001628280-26-024696 |
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Oct 5, 2026 21d ago | Insider Cluster | $17.76 | awaiting T+20 | — | $12.79 (−27.98%) |
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May 20, 2026 22w ago | 144 | $32.45 $25.56 | ▼ −21.23% | ▼ −21.57% | $12.79 (−60.59%) |
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