BidaskClub upgraded shares of Micron Technology (NASDAQ:MU) from a hold rating to a buy rating in a research report released on Thursday.
A number of other equities analysts also recently weighed in on the stock. Vetr downgraded shares of Micron Technology from a buy rating to a hold rating and set a $62.05 target price on the stock. in a report on Thursday. Mizuho restated a buy rating and set a $66.00 target price (up from $55.00) on shares of Micron Technology in a report on Tuesday. Evercore ISI boosted their target price on shares of Micron Technology from $60.00 to $80.00 and gave the stock an outperform rating in a report on Monday. Nomura boosted their target price on shares of Micron Technology and gave the stock a buy rating in a report on Monday. Finally, Zacks Investment Research upgraded shares of Micron Technology from a hold rating to a buy rating and set a $60.00 target price on the stock in a report on Thursday, March 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Micron Technology currently has a consensus rating of Buy and an average price target of $58.04.
Micron Technology (NASDAQ MU) traded up $1.14 during midday trading on Thursday, hitting $59.98. 41,792,466 shares of the stock were exchanged, compared to its average volume of 49,075,832. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. Micron Technology has a 12 month low of $25.40 and a 12 month high of $63.42. The firm has a market capitalization of $69,430.00, a P/E ratio of 9.45, a PEG ratio of 0.58 and a beta of 1.45.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. sell-side analysts predict that Micron Technology will post 10.29 earnings per share for the current fiscal year.
In other news, SVP April S. Arnzen sold 27,878 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the sale, the senior vice president now owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the sale, the senior vice president now directly 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. In the last three months, insiders sold 174,692 shares of company stock valued at $7,493,827. 0.53% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Micron Technology by 26.7% during the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 9,810 shares of the semiconductor manufacturer’s stock worth $403,000 after purchasing an additional 2,070 shares during the period. LMR Partners LLP raised its stake in Micron Technology by 6.9% during the third quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after acquiring an additional 1,776 shares in the last quarter. AMP Capital Investors Ltd raised its stake in Micron Technology by 14.1% during the third quarter. AMP Capital Investors Ltd now owns 801,496 shares of the semiconductor manufacturer’s stock worth $31,521,000 after acquiring an additional 99,231 shares in the last quarter. Fox Run Management L.L.C. raised its stake in Micron Technology by 23.9% during the fourth quarter. Fox Run Management L.L.C. now owns 34,682 shares of the semiconductor manufacturer’s stock worth $1,426,000 after acquiring an additional 6,682 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Micron Technology by 40.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 437,577 shares of the semiconductor manufacturer’s stock worth $17,210,000 after acquiring an additional 125,290 shares in the last quarter. 82.51% of the stock is owned by institutional investors and hedge funds.
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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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