Micron Technology (NASDAQ:MU) has been given a $53.00 price target by research analysts at Cowen in a report issued on Wednesday. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Cowen’s price objective would indicate a potential upside of 18.04% from the company’s current price.
Other research analysts have also issued research reports about the company. Goldman Sachs Group set a $55.00 price objective on Micron Technology and gave the company a “buy” rating in a research report on Thursday, January 11th. Stifel Nicolaus restated a “buy” rating and set a $75.00 price objective (up previously from $65.00) on shares of Micron Technology in a research report on Wednesday, December 20th. They noted that the move was a valuation call. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a research report on Tuesday, November 21st. Morgan Stanley dropped their price target on Micron Technology from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Finally, Mizuho reiterated a “buy” rating and issued a $55.00 price target (up previously from $50.00) on shares of Micron Technology in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.80.
Shares of Micron Technology (NASDAQ MU) opened at $44.90 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $51,920.00, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.44 and a beta of 1.62. Micron Technology has a twelve month low of $22.64 and a twelve month high of $49.89.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. equities research analysts predict that Micron Technology will post 10.12 EPS for the current year.
In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 1,222 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the sale, the senior vice president now directly owns 57,969 shares in the company, valued at $2,537,303.13. The disclosure for this sale can be found here. Insiders have sold 174,692 shares of company stock worth $7,473,967 over the last three months. Corporate insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. SevenBridge Financial Group LLC raised its position in shares of Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the period. Jacobi Capital Management LLC raised its position in shares of Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after acquiring an additional 2,600 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Micron Technology in the third quarter worth about $204,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Micron Technology in the third quarter worth about $184,000. 81.34% of the stock is currently owned by hedge funds and other institutional investors.
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Micron Technology Company Profile
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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