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New partnership will bring Everspin 256Mb PERSYST MRAM into Teledyne HiRel Semiconductors’ memory solutions for mission-critical systems

CHANDLER, Ariz., & GARLAND, Texas--(BUSINESS WIRE)--Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of MRAM solutions, and Teledyne HiRel Semiconductors (Teledyne HiRel), a business unit of Teledyne Technologies Incorporated (NYSE: TDY) and a leading supplier of high-reliability semiconductor solutions, today announced a strategic partnership to accelerate adoption of Everspin’s MRAM in aerospace, defense and other demanding systems. This collaboration will begin with the 256Mb PERSYST spin-transfer torque MRAM (STT-MRAM), a non-volatile memory that combines RAM-like speed with the ability to retain data through power loss, system resets and unexpected interruptions.

Through the new partnership, Teledyne HiRel will initially offer Everspin’s 256Mb PERSYST STT-MRAM as part of its memory products portfolio for military and aerospace customers, with target applications including avionics, VPX and single-board computer platforms, radar and electronic warfare payloads, satellite electronics, autonomous systems and other next-generation electronic solutions. The agreement also covers other PERSYST STT-MRAM products, including 64Mb and 128Mb options, giving customers additional density choices as program requirements vary.

As component availability, lifecycle planning and long-term supply become greater considerations for programs with long service lives, customers are evaluating persistent memory options that enable fast writes, high endurance and data retention through power loss. These capabilities are especially important for startup, configuration storage, event logging, recovery and other functions that must remain available throughout the product’s service life.

Because PERSYST enables frequent writes with high endurance and retains data without battery backup, it can replace or complement NOR flash in applications that need faster updates or power-loss-safe storage, reducing a program’s reliance on battery-backed SRAM, hold-up power or capacitor-backed memory schemes. By combining RAM-like access with non-volatility, MRAM can also help simplify architectures that would otherwise require separate volatile memory, non-volatile storage, backup power, wear-leveling strategies or complex data-protection circuitry. Teledyne HiRel will back this new capability with product guidance, screening flows, qualification documentation, procurement support and obsolescence management.

“Aerospace and defense programs require memory solutions that can sustain long operating lifecycles, documented qualification requirements and reliable performance in harsh environments,” said Mont Taylor, Vice President of Business Development at Teledyne HiRel Semiconductors. “By adding Everspin’s PERSYST STT-MRAM to our non-volatile memory portfolio, we give customers a qualified path to specify persistent memory for their most critical applications.”

“PERSYST MRAM delivers a unique combination of endurance, instant-on data retention and high-performance operation,” said Sanjeev Aggarwal, President and CEO of Everspin Technologies. “Through our partnership with Teledyne HiRel, customers gain access not only to advanced MRAM technology, but also to the screening expertise and supply continuity needed throughout extended program timelines. This collaboration helps reduce adoption barriers while providing confidence in long-term product availability.”

PERSYST MRAM products will ship from Teledyne HiRel Semiconductors’ facility in Milpitas, California, with customer availability anticipated in the fourth quarter of 2026.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest-performance, non-volatile memory for Industrial IoT, data centers and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com.

About Teledyne HiRel Semiconductors and Teledyne Aerospace & Defense Electronics

Teledyne HiRel Semiconductors, part of Teledyne Aerospace & Defense Electronics, delivers high-reliability semiconductor solutions for aerospace, defense, space and industrial applications, with a focus on solving critical customer challenges through standard, semicustom and fully custom offerings. Teledyne Aerospace & Defense Electronics provides a broad portfolio of highly engineered solutions for demanding environments across avionics, energetics, electronic warfare, missiles, radar and surveillance, satellite communications, air and space, and test and measurement.

About Teledyne Technologies

Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics and engineered systems. Teledyne’s operations are primarily located in the United States, the United Kingdom, Canada, and Western and Northern Europe. For more information, visit www.teledyne.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding future events or results. Forward-looking statements are identified by words such as “will,” “expects” or similar expressions and include, but are not limited to, statements regarding Everspin’s anticipated business plans and business strategy. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements, including, without limitation, the risks set forth under the caption “Risk Factors” in Everspin’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 5, 2026, as well as in Everspin’s subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made, and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

More News From Everspin Technologies, Inc.

A month has gone by since the last earnings report for Teledyne Technologies (TDY - Free Report) . Shares have lost about 2.7% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Teledyne due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Teledyne's Q2 Earnings & Revenues Beat Estimates, '26 EPS View Raised

Teledyne Technologies Inc. reported second-quarter 2026 adjusted earnings of $6.28 per share, which surpassed the Zacks Consensus Estimate of $5.78 by 8.7%. The bottom line also improved 20.8% from $5.20 recorded in the year-ago quarter.

Including one-time items, the company recorded GAAP earnings of $5.37 per share, up 21.6% from the prior-year period’s earnings of $4.43.

The year-over-year improvement in the bottom line can be attributed to higher net sales and operating income in the second quarter than the year-ago quarter’s reported actuals.

Operational Highlights of TDYTotal sales were $1.66 billion, which beat the Zacks Consensus Estimate of $1.57 billion by 5.9%. The top line also jumped 9.8% from $1.51 billion reported in the year-ago quarter. This improvement was driven by higher year-over-year sales across all business segments.

TDY’s Segmental PerformanceInstrumentation: Sales in this segment increased 5.5% year over year to $387.8 million, driven by higher sales of marine instrumentation, primarily due to stronger offshore energy and defense markets.

The adjusted operating income declined 0.1% year over year to $104.8 million.

Digital Imaging: Quarterly sales in this division increased 12.7% year over year to $868.7 million. The segment benefited from higher sales of infrared imaging detectors, components and subsystems for defense and commercial applications. Surveillance systems, industrial and scientific imaging systems, and X-ray products also contributed to the growth.

The adjusted operating income rose 31.2% year over year to $217.6 million.

Aerospace and Defense Electronics: Sales in this segment totaled $286.4 million, up 8.2% from the prior-year quarter. The improvement was driven by higher sales of defense electronics and aerospace electronics.

The adjusted operating income increased 8.6% year over year to $79.7 million.

Engineered Systems: Revenues in this division jumped 8.4% year over year to $119.6 million due to higher sales of engineered products and energy systems.

This segment's operating income rose 24.8% to $15.1 million.

Financial Condition of TDYTeledyne’s cash and cash equivalents totaled $340.1 million as of June 28, 2026 compared with $352.4 million as of Dec. 28, 2025.

Its long-term debt was $2.027 billion at the end of the second quarter of 2026 compared with $2.025 billion as of Dec. 28, 2025.

Cash flow from operating activities totaled $315.2 million during the first six months of 2026 compared with $226.6 million in the same period last year.

TDY generated free cash flow of $284.7 million, up from $196.3 million in the prior-year quarter.

Teledyne Raises 2026 Earnings ViewFor the third quarter of 2026, Teledyne expects adjusted earnings between $6.05 and $6.15 per share. The Zacks Consensus Estimate for TDY’s third-quarter earnings is pegged at $5.90, which is lower than the company's guided range.

For full-year 2026, Teledyne raised its adjusted earnings outlook to $24.45-$24.65 per share from the previous range of $23.85-$24.15. The Zacks Consensus Estimate for earnings is pegged at $24.10, which is lower than the company's guided range.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.

VGM ScoresCurrently, Teledyne has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Teledyne has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerTeledyne belongs to the Zacks Aerospace - Defense Equipment industry. Another stock from the same industry, AAR (AIR - Free Report) , has gained 2.3% over the past month. More than a month has passed since the company reported results for the quarter ended May 2026.

AAR reported revenues of $928 million in the last reported quarter, representing a year-over-year change of +23%. EPS of $1.53 for the same period compares with $1.16 a year ago.

AAR is expected to post break-even earnings per share for the current quarter, representing a year-over-year change of 0%. Over the last 30 days, the Zacks Consensus Estimate has changed 0%.

AAR has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

Aug 10 (Reuters) - Sensing-systems maker Teledyne ‌Technologies (TDY.N), opens new tab agreed to acquire Varex Imaging (VREX.O), opens new tab for $18.90 per share in an all-cash transaction valued at approximately $1.1 billion, the companies said on Monday.

Shares of X-ray ​imaging components maker Varex jumped nearly 50% before ​the bell.

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The transaction that is expected to close in ⁠early 2027 would broaden Teledyne's healthcare portfolio, which includes ​imaging and sensing technologies for medical, dental and life science ​applications, supporting diagnosis, treatment and clinical research.

"Our X-ray technologies fit naturally alongside Teledyne's product portfolio, and its resources will help us accelerate adoption ​of our advanced imaging solutions and development of the ​next generation of products," said Varex CEO Sunny Sanyal.

Salt Lake City-based Varex's ‌X-ray ⁠imaging components are used in medical diagnostic imaging, security inspection systems and quality inspection systems, as well as for analysis and measurement applications in industrial manufacturing applications.

The company posted ​third-quarter profit ​above Wall Street ⁠estimates on Monday as it recovered tariff-related costs while reeling from supply chain disruptions ​and China destocking trends.

"The quarter also included the ​recovery ⁠of tariffs that had increased our product costs in prior periods. We generated $21 million of operating cash flow," Sanyal said.

Quarterly ⁠adjusted ​profit came in at 31 cents ​per share, 10 cents ahead of analysts' expectation, according to data compiled by ​LSEG.

Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Joyjeet Das

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Short-wave infrared sensors made by Teledyne FLIR are mounted under an APEX aircraft in Taitung, Taiwan, October 13, 2025. REUTERS/Ann Wang/File Photo Purchase Licensing Rights, opens new tab

July 22 (Reuters) - Teledyne Technologies (TDY.N), opens new tab on Wednesday raised its 2026 profit forecast as demand remained robust at ​its digital imaging, instrumentation as well as ‌aerospace and defense segments.

Shares of the sensing-systems maker, which also reported better-than-expected quarterly profit and revenue, rose nearly ​3% before the bell.

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Teledyne, which continues ​to benefit from elevated demand for defense and ⁠surveillance equipment amid heightened geopolitical tensions, noted ​further boost to its top-line from recent acquisitions.

"Organic ​growth was greatest in our Digital Imaging segment, where infrared detectors and systems for space and airborne and ​marine unmanned systems, as well as counter unmanned ​applications, each increased considerably," CEO Robert Mehrabian said.

"We achieved growth ‌in ⁠our other segments and each product line within the Instrumentation segment," the CEO added.

Teledyne now expects full-year adjusted profit between $24.45 and $24.65 per share, compared ​with its ​prior range ⁠of $23.85 to $24.15.

The mid-point of the new forecast range is 39 cents ahead of average ​analysts' estimate of $24.16, according to data ​compiled ⁠by LSEG.

On an adjusted basis, Teledyne earned $6.28 per share in the quarter ended June 28, compared with estimates of $5.80 a ⁠share.

The Thousand ​Oaks, California-based company posted ​a 9.8% year-on-year rise in second-quarter revenue to $1.66 billion, compared with estimates of $1.58 billion.

Reporting by ​Aatreyee Dasgupta in Bengaluru; Editing by Joyjeet Das

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The market expects Teledyne Technologies (TDY - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 22, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis defense and aerospace industry supplier is expected to post quarterly earnings of $5.77 per share in its upcoming report, which represents a year-over-year change of +11%.

Revenues are expected to be $1.56 billion, up 3.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Teledyne?For Teledyne, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.52%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Teledyne will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Teledyne would post earnings of $5.48 per share when it actually produced earnings of $5.80, delivering a surprise of +5.84%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Teledyne appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.