Micron Technology, Inc. (MU) Stock Rating Reaffirmed by Barclays PLC

Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “overweight” rating reissued by analysts at Barclays PLC in a research note issued to investors on Thursday. They presently have a $60.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $40.00. Barclays PLC’s target price indicates a potential upside of 48.51% from the stock’s previous close.

Several other brokerages have also recently issued reports on MU. Mizuho reaffirmed a “buy” rating and set a $35.00 price objective on shares of Micron Technology in a report on Friday, June 16th. Citigroup Inc. restated a “buy” rating and set a $45.00 price target on shares of Micron Technology in a report on Wednesday, August 2nd. BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Loop Capital restated a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price target on shares of Micron Technology in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $45.18.

Micron Technology (NASDAQ:MU) traded down 0.44% on Thursday, hitting $40.40. 35,371,160 shares of the company’s stock traded hands. Micron Technology has a 12 month low of $16.45 and a 12 month high of $42.07. The stock has a 50 day moving average price of $35.93 and a 200-day moving average price of $31.11. The stock has a market cap of $44.80 billion, a P/E ratio of 9.16 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. Equities analysts predict that Micron Technology will post $7.59 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Micron Technology, Inc. (MU) Stock Rating Reaffirmed by Barclays PLC” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/14/micron-technology-inc-mu-stock-rating-reaffirmed-by-barclays-plc.html.

In other Micron Technology news, EVP Scott J. Deboer sold 16,950 shares of Micron Technology stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $41.40, for a total value of $701,730.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the completion of the sale, the director now owns 114,284 shares in the company, valued at approximately $4,555,360.24. The disclosure for this sale can be found here. Insiders sold 304,415 shares of company stock worth $11,322,305 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Large investors have recently bought and sold shares of the business. Janus Capital Management LLC raised its position in Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after purchasing an additional 3,896,978 shares during the period. Eidelman Virant Capital raised its holdings in shares of Micron Technology by 22.0% in the 2nd quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock valued at $3,804,000 after buying an additional 23,000 shares during the period. Schroder Investment Management Group raised its holdings in shares of Micron Technology by 16.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after buying an additional 232,083 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Micron Technology by 8.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after buying an additional 3,317 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its holdings in shares of Micron Technology by 0.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock valued at $2,106,000 after buying an additional 475 shares during the period. Institutional investors own 79.29% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply