Deutsche Bank reissued their buy rating on shares of Micron Technology (NASDAQ:MU) in a report published on Wednesday, December 20th. They currently have a $60.00 price objective on the semiconductor manufacturer’s stock.
Several other equities research analysts also recently weighed in on the company. Vetr downgraded Micron Technology from a buy rating to a hold rating and set a $47.81 price target on the stock. in a report on Friday, November 17th. Morgan Stanley increased their price objective on Micron Technology from $39.00 to $55.00 and gave the stock an overweight rating in a research note on Monday, November 27th. ValuEngine cut Micron Technology from a strong-buy rating to a buy rating in a research note on Friday, December 1st. JPMorgan Chase & Co. increased their price objective on Micron Technology from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Friday, November 10th. Finally, UBS Group reissued a buy rating and issued a $53.00 price objective (up previously from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $55.33.
Micron Technology (NASDAQ MU) traded down $0.01 during midday trading on Wednesday, hitting $42.81. The stock had a trading volume of 28,380,800 shares, compared to its average volume of 46,950,000. The company has a market capitalization of $49,500.00, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. Micron Technology has a 1 year low of $21.49 and a 1 year high of $49.89.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 71.4% compared to the same quarter last year. sell-side analysts forecast that Micron Technology will post 9.78 earnings per share for the current fiscal year.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the transaction, the director now owns 116,699 shares in the company, valued at approximately $4,829,004.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. Following the transaction, the senior vice president now owns 202,486 shares of the company’s stock, valued at approximately $8,585,406.40. The disclosure for this sale can be found here. Insiders sold a total of 188,720 shares of company stock valued at $8,046,240 in the last 90 days. 0.53% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. boosted its holdings in Micron Technology by 6.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 26,876 shares of the semiconductor manufacturer’s stock worth $1,105,000 after buying an additional 1,587 shares during the last quarter. DnB Asset Management AS boosted its holdings in Micron Technology by 3.7% in the 4th quarter. DnB Asset Management AS now owns 2,618,222 shares of the semiconductor manufacturer’s stock worth $107,661,000 after buying an additional 93,230 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Micron Technology in the 4th quarter worth about $6,571,000. Prudential Financial Inc. boosted its holdings in Micron Technology by 17.1% in the 3rd quarter. Prudential Financial Inc. now owns 1,775,481 shares of the semiconductor manufacturer’s stock worth $69,830,000 after buying an additional 259,557 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in Micron Technology by 1.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,383,098 shares of the semiconductor manufacturer’s stock worth $133,057,000 after buying an additional 51,527 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
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About Micron Technology
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