Micron Technology (NASDAQ:MU – Get Rating)‘s stock had its “buy” rating restated by investment analysts at Susquehanna in a research note issued on Monday, TipRanks reports. They presently have a $115.00 price objective on the semiconductor manufacturer’s stock. Susquehanna’s price target would indicate a potential upside of 60.50% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a report on Wednesday, March 16th. StockNews.com downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 9th. Morgan Stanley lifted their price target on Micron Technology from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, March 30th. Mizuho increased their price objective on shares of Micron Technology from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, March 30th. Finally, Wedbush raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $120.00 in a research report on Monday, February 14th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $112.92.
Shares of MU traded down $0.27 during trading hours on Monday, reaching $71.65. 437,061 shares of the company traded hands, compared to its average volume of 22,417,283. The stock has a market capitalization of $80.01 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.25 and a beta of 1.18. The stock has a fifty day simple moving average of $73.59 and a 200 day simple moving average of $81.41. Micron Technology has a fifty-two week low of $65.67 and a fifty-two week high of $98.45. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15.
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 company had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Research analysts predict that Micron Technology will post 9.15 EPS for the current fiscal year.
In other news, SVP April S. Arnzen sold 5,600 shares of the stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total transaction of $425,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert P. Beard sold 266 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Concorde Financial Corp bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $27,000. Selective Wealth Management Inc. acquired a new stake in shares of Micron Technology during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. grew its position in shares of Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of Micron Technology by 600.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Finally, Vectors Research Management LLC lifted its holdings in shares of Micron Technology by 60.3% in the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 140 shares during the last quarter. 80.35% of the stock is owned by 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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