Micron Technology (NASDAQ:MU) Cut to Sell at BidaskClub

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.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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