Vetr lowered shares of Micron Technology (NASDAQ:MU) from a buy rating to a hold rating in a report issued on Thursday morning. Vetr currently has $62.05 target price on the semiconductor manufacturer’s stock.
MU has been the topic of a number of other research reports. BidaskClub downgraded Micron Technology from a buy rating to a hold rating in a research report on Wednesday, December 27th. Needham & Company LLC reiterated a buy rating and issued a $76.00 price objective on shares of Micron Technology in a research report on Wednesday, December 20th. Nomura increased their price objective on Micron Technology and gave the stock a buy rating in a research report on Monday, March 12th. MKM Partners increased their price objective on Micron Technology from $52.00 to $54.00 and gave the stock a buy rating in a research report on Thursday, December 14th. Finally, Credit Suisse Group reiterated an outperform rating and issued a $60.00 price objective (up previously from $50.00) on shares of Micron Technology in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Micron Technology has a consensus rating of Buy and an average target price of $58.02.
Micron Technology (NASDAQ:MU) opened at $60.58 on Thursday. Micron Technology has a twelve month low of $25.40 and a twelve month high of $63.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The company has a market capitalization of $70,049.56, a price-to-earnings ratio of 9.54, a PEG ratio of 0.59 and a beta of 1.46.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 71.4% on a year-over-year basis. research analysts anticipate that Micron Technology will post 10.29 EPS for the current fiscal year.
In related news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total value of $128,190.00. Following the completion of the sale, the director now directly owns 113,585 shares in the company, valued at $4,853,487.05. The disclosure for this sale can be found here. Insiders have sold 174,692 shares of company stock worth $7,493,827 over the last ninety days. Insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SevenBridge Financial Group LLC grew its stake 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 purchasing an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Micron Technology during the 3rd quarter valued at approximately $204,000. Girard Partners LTD. bought a new stake in Micron Technology during the 4th quarter valued at approximately $207,000. Finally, Lourd Capital LLC bought a new stake in Micron Technology during the 4th quarter valued at approximately $211,000. 82.51% of the stock is currently owned by 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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