Micron Technology, Inc. (NASDAQ:MU) shot up 6.4% on Thursday . The stock traded as high as $40.20 and last traded at $40.12. 42,840,736 shares traded hands during trading, a decline of 6% from the average session volume of 45,539,852 shares. The stock had previously closed at $37.72.
Several brokerages have weighed in on MU. BidaskClub raised Micron Technology from a “strong sell” rating to a “sell” rating in a research note on Friday. ValuEngine raised Micron Technology from a “strong sell” rating to a “sell” rating in a research note on Thursday. Barclays reduced their price objective on Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Susquehanna Bancshares cut Micron Technology from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $45.00 in a research note on Tuesday, October 23rd. Finally, UBS Group cut Micron Technology from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $66.92.
The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The firm has a market cap of $45.73 billion, a PE ratio of 3.41, a P/E/G ratio of 0.62 and a beta of 1.69.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.20. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. Micron Technology’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 10.19 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of MU. Senator Investment Group LP purchased a new stake in Micron Technology during the second quarter worth $140,277,000. Point72 Asset Management L.P. lifted its holdings in Micron Technology by 632.0% during the second quarter. Point72 Asset Management L.P. now owns 2,027,604 shares of the semiconductor manufacturer’s stock worth $106,328,000 after buying an additional 1,750,604 shares during the period. Natixis lifted its holdings in Micron Technology by 345.7% during the second quarter. Natixis now owns 2,028,745 shares of the semiconductor manufacturer’s stock worth $106,388,000 after buying an additional 1,573,549 shares during the period. Parnassus Investments CA lifted its holdings in Micron Technology by 40.0% during the second quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after buying an additional 1,400,000 shares during the period. Finally, Global Thematic Partners LLC lifted its holdings in Micron Technology by 178.5% during the second quarter. Global Thematic Partners LLC now owns 1,273,854 shares of the semiconductor manufacturer’s stock worth $66,802,000 after buying an additional 816,374 shares during the period. Institutional investors own 75.48% of the company’s stock.
Micron Technology Company Profile (NASDAQ:MU)
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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