BidaskClub upgraded shares of Micron Technology (NASDAQ:MU) from a hold rating to a buy rating in a research report sent to investors on Thursday, March 15th.
MU has been the subject of a number of other research reports. Vetr cut shares of Micron Technology from a buy rating to a hold rating and set a $62.05 target price for the company. in a research report on Thursday, March 15th. Nomura lifted their target price on shares of Micron Technology and gave the stock a buy rating in a research report on Monday, March 12th. Evercore ISI boosted their price objective on shares of Micron Technology from $60.00 to $80.00 and gave the company an outperform rating in a research report on Monday, March 12th. Mizuho reissued a buy rating and issued a $66.00 price objective (up previously from $55.00) on shares of Micron Technology in a research report on Tuesday, March 13th. Finally, Zacks Investment Research raised shares of Micron Technology from a hold rating to a buy rating and set a $60.00 price objective for the company in a research report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $63.66.
Shares of NASDAQ:MU opened at $48.46 on Thursday. The stock has a market capitalization of $57,802.69, a PE ratio of 10.99, a PEG ratio of 0.46 and a beta of 1.33. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29. Micron Technology has a fifty-two week low of $26.36 and a fifty-two week high of $63.42.
Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.27. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The business had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 58.2% compared to the same quarter last year. equities analysts predict that Micron Technology will post 10.85 earnings per share for the current fiscal year.
In related news, EVP Scott J. Deboer sold 14,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total value of $638,380.00. Following the sale, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at $5,836,481.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $43.17, for a total transaction of $129,510.00. Following the completion of the sale, the director now directly owns 109,921 shares in the company, valued at $4,745,289.57. The disclosure for this sale can be found here. Insiders sold 61,199 shares of company stock worth $3,028,117 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of MU. SevenBridge Financial Group LLC grew its position in shares of Micron Technology by 87.5% during 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 last quarter. Salem Investment Counselors Inc. grew its position in shares of Micron Technology by 76.0% during 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 last quarter. Sowell Financial Services LLC bought a new position in shares of Micron Technology during the third quarter worth about $204,000. Girard Partners LTD. bought a new position in shares of Micron Technology during the fourth quarter worth about $207,000. Finally, Lourd Capital LLC bought a new position in shares of Micron Technology during the fourth quarter worth about $211,000. 82.49% of the stock is currently owned by institutional investors.
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Micron Technology Company Profile
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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