A number of other equities research analysts also recently weighed in on the stock. Mizuho upped their price target on shares of Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Susquehanna reiterated a “buy” rating and issued a $115.00 target price on shares of Micron Technology in a report on Monday, May 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 target price on shares of Micron Technology in a report on Wednesday, March 30th. Wedbush upgraded 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 report on Monday, February 14th. Finally, Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a report on Wednesday, March 16th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $112.92.
Shares of NASDAQ MU opened at $67.87 on Thursday. Micron Technology has a twelve month low of $65.67 and a twelve month high of $98.45. The company has a current ratio of 3.11, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $75.79 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.24 and a beta of 1.18. The firm has a 50-day moving average of $72.60 and a two-hundred day moving average of $81.19.
Micron Technology (NASDAQ:MU – Get Rating) last issued its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.20. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the company earned $0.90 EPS. Micron Technology’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts predict that Micron Technology will post 9.15 earnings per share for the current year.
In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $76.00, for a total value of $425,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SOA Wealth Advisors LLC. lifted its stake in shares of Micron Technology by 144.9% in the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Concorde Financial Corp acquired a new position in Micron Technology during the 4th quarter valued at $27,000. Selective Wealth Management Inc. acquired a new position in Micron Technology during the 4th quarter valued at $28,000. Core Alternative Capital raised its stake in Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 365 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its stake in Micron Technology by 600.0% during the 4th 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. Hedge funds and other institutional investors own 80.35% of the company’s stock.
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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