Micron Technology, Inc. (MU) Upgraded to “Buy” by Vetr Inc.

Micron Technology, Inc. (NASDAQ:MU) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 25th. The firm currently has a $42.77 target price on the semiconductor manufacturer’s stock. Vetr‘s price target indicates a potential downside of 4.49% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Macquarie reissued an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a research report on Monday, October 23rd. Citigroup Inc. reissued a “buy” rating on shares of Micron Technology in a research report on Monday, October 23rd. UBS AG reissued a “buy” rating and set a $53.00 price target (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Micron Technology in a research report on Friday, October 13th. Finally, Mizuho reissued an “outperform” rating and set a $45.00 price target (up previously from $40.00) on shares of Micron Technology in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.96.

Shares of Micron Technology (NASDAQ:MU) traded up $1.28 during trading hours on Wednesday, hitting $44.78. The stock had a trading volume of 33,840,700 shares, compared to its average volume of 28,969,953. The stock has a market capitalization of $50,166.59, a P/E ratio of 9.80, a P/E/G ratio of 0.59 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology has a twelve month low of $16.90 and a twelve month high of $45.33.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. research analysts forecast that Micron Technology will post 7.42 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/11/micron-technology-inc-mu-rating-increased-to-buy-at-vetr-inc.html.

In related news, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares of the company’s stock, valued at $10,307,557.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the sale, the director now directly owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 333,415 shares of company stock valued at $12,602,325. 0.69% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of MU. Capital Research Global Investors raised its stake in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after acquiring an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. Janus Capital Management LLC increased its holdings in shares of 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 in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $95,449,000. Finally, AQR Capital Management LLC increased its holdings in shares of Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock valued at $168,310,000 after purchasing an additional 2,281,331 shares in the last quarter. Institutional investors own 76.21% of the company’s stock.

Micron Technology Company Profile

To view Vetr’s full report, visit Vetr’s official website.

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