Micron Technology (MU) Cut to Buy at ValuEngine

ValuEngine cut shares of Micron Technology (NASDAQ:MU) from a strong-buy rating to a buy rating in a report published on Monday morning.

A number of other analysts also recently commented on MU. Morgan Stanley boosted their price target on shares of Micron Technology from $54.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, March 23rd. Citigroup downgraded shares of Micron Technology from a buy rating to a neutral rating in a research report on Friday, March 23rd. UBS assumed coverage on shares of Micron Technology in a research report on Wednesday, April 4th. They set a sell rating and a $35.00 price target on the stock. Deutsche Bank boosted their price target on shares of Micron Technology from $60.00 to $65.00 and gave the stock a buy rating in a research report on Monday, March 19th. Finally, Rosenblatt Securities boosted their price target on shares of Micron Technology from $85.00 to $100.00 and gave the stock a buy rating in a research report on Friday, March 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Micron Technology presently has an average rating of Buy and a consensus price target of $63.66.

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NASDAQ MU opened at $47.60 on Monday. Micron Technology has a one year low of $26.39 and a one year high of $63.42. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $54,636.53, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.43 and a beta of 1.33.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.28 billion. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. Micron Technology’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. equities analysts forecast that Micron Technology will post 10.85 EPS for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 532 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $59.80, for a total value of $31,813.60. Following the completion of the sale, the senior vice president now directly owns 57,437 shares of the company’s stock, valued at $3,434,732.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was 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 of the company’s stock, valued at $4,745,289.57. The disclosure for this sale can be found here. Insiders have 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 insiders.

A number of hedge funds have recently bought and sold shares of MU. SevenBridge Financial Group LLC grew its position in Micron Technology by 71.6% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock worth $180,000 after acquiring an additional 1,825 shares in the last quarter. Girard Partners LTD. acquired a new stake in shares of Micron Technology in the fourth quarter worth $207,000. Lourd Capital LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth $211,000. Centaurus Financial Inc. acquired a new stake in shares of Micron Technology in the fourth quarter worth $211,000. Finally, Signition LP acquired a new stake in shares of Micron Technology in the fourth quarter worth $214,000. 82.08% of the stock is owned by institutional investors.

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About Micron Technology

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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