Micron Technology (NASDAQ:MU – Get Rating) had its price objective cut by BMO Capital Markets from $115.00 to $85.00 in a research note released on Monday morning, The Fly reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.
Several other brokerages also recently issued reports on MU. Mizuho reduced their price target on shares of Micron Technology from $113.00 to $95.00 and set a buy rating on the stock in a report on Tuesday, June 21st. Summit Insights downgraded Micron Technology from a buy rating to a hold rating in a research report on Sunday, June 12th. UBS Group decreased their price objective on Micron Technology from $120.00 to $115.00 and set a buy rating on the stock in a research note on Monday, June 13th. Susquehanna reissued a buy rating and issued a $115.00 target price on shares of Micron Technology in a research note on Monday, May 16th. Finally, Sanford C. Bernstein raised shares of Micron Technology from a market perform rating to an outperform rating and set a $94.00 price target on the stock in a research note on Wednesday, March 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $109.92.
Shares of MU stock opened at $58.78 on Monday. The stock has a fifty day moving average price of $67.31 and a 200 day moving average price of $78.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The stock has a market cap of $65.64 billion, a PE ratio of 7.39, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a 1 year low of $53.60 and a 1 year high of $98.45.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.20. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts predict that Micron Technology will post 9.15 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Micron Technology by 1.2% in the first quarter. Vanguard Group Inc. now owns 90,507,938 shares of the semiconductor manufacturer’s stock valued at $7,049,663,000 after buying an additional 1,037,418 shares during the last quarter. State Street Corp increased its holdings in shares of Micron Technology by 2.4% in the 4th quarter. State Street Corp now owns 47,336,782 shares of the semiconductor manufacturer’s stock worth $4,414,090,000 after acquiring an additional 1,104,114 shares during the period. Sanders Capital LLC lifted its position in Micron Technology by 1.6% in the 1st quarter. Sanders Capital LLC now owns 41,921,490 shares of the semiconductor manufacturer’s stock valued at $3,551,295,000 after purchasing an additional 646,950 shares during the last quarter. Capital World Investors boosted its stake in Micron Technology by 28.8% during the 1st quarter. Capital World Investors now owns 35,314,215 shares of the semiconductor manufacturer’s stock valued at $2,750,624,000 after purchasing an additional 7,894,757 shares during the period. Finally, Capital Research Global Investors grew its position in Micron Technology by 28.6% in the 1st quarter. Capital Research Global Investors now owns 33,193,160 shares of the semiconductor manufacturer’s stock worth $2,585,436,000 after purchasing an additional 7,380,205 shares during the last quarter. 80.35% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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