BidaskClub lowered shares of Micron Technology (NASDAQ:MU) from a hold rating to a sell rating in a research note published on Friday, January 26th.
Other equities research analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of Micron Technology from $75.00 to $85.00 in a research note on Wednesday, December 20th. Loop Capital reduced their price target on shares of Micron Technology from $48.00 to $47.00 and set a buy rating on the stock in a research note on Friday, October 13th. Goldman Sachs Group reissued a buy rating and issued a $43.00 price target on shares of Micron Technology in a research note on Saturday, September 30th. Nomura upped their target price on shares of Micron Technology from $40.00 to $45.00 and gave the stock a buy rating in a research note on Friday, September 29th. Finally, MKM Partners reaffirmed a buy rating and set a $52.00 target price (up from $45.00) on shares of Micron Technology in a research note on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Micron Technology has an average rating of Buy and a consensus price target of $55.80.
Shares of Micron Technology (NASDAQ:MU) opened at $42.19 on Friday. Micron Technology has a 52-week low of $22.64 and a 52-week high of $49.89. The stock has a market cap of $48,780.00, a PE ratio of 6.64, a PEG ratio of 0.40 and a beta of 1.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. Micron Technology’s revenue was up 71.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. sell-side analysts forecast that Micron Technology will post 10.12 EPS for the current year.
In related news, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the sale, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,470 shares of company stock valued at $7,420,480. 0.53% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new position in Micron Technology during the 2nd quarter worth $1,056,000. SevenBridge Financial Group LLC increased its holdings in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of Micron Technology in the 3rd quarter valued at about $204,000. Institutional investors own 80.66% of the company’s stock.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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