Barclays restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research report report published on Sunday, AnalystRatings.com reports. The brokerage currently has a $70.00 price objective on the semiconductor manufacturer’s stock.
A number of other brokerages have also recently issued reports on MU. BidaskClub upgraded shares of Micron Technology from a buy rating to a strong-buy rating in a report on Saturday, December 21st. Bank of America restated a buy rating and issued a $70.00 target price on shares of Micron Technology in a report on Thursday, December 19th. Robert W. Baird raised their price target on shares of Micron Technology from $30.00 to $45.00 and gave the company an underperform rating in a research report on Thursday, December 19th. Wedbush upgraded Micron Technology from a neutral rating to an outperform rating and lifted their price target for the company from $44.00 to $65.00 in a research note on Tuesday, December 17th. Finally, Sanford C. Bernstein set a $65.00 price objective on Micron Technology and gave the stock a buy rating in a report on Friday, September 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Micron Technology currently has an average rating of Buy and a consensus target price of $62.07.
NASDAQ:MU opened at $57.66 on Friday. Micron Technology has a 12 month low of $32.14 and a 12 month high of $58.48. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $63.90 billion, a price-to-earnings ratio of 18.72 and a beta of 1.98. The firm has a fifty day simple moving average of $52.88 and a two-hundred day simple moving average of $47.30.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Micron Technology had a return on equity of 11.36% and a net margin of 17.01%. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business earned $2.97 EPS. The firm’s revenue for the quarter was down 35.0% on a year-over-year basis. Equities analysts predict that Micron Technology will post 2.09 earnings per share for the current fiscal year.
In related news, SVP April S. Arnzen sold 4,252 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $47.22, for a total transaction of $200,779.44. Following the completion of the transaction, the senior vice president now owns 101,439 shares of the company’s stock, valued at $4,789,949.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joel L. Poppen sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total transaction of $1,139,400.00. Following the transaction, the senior vice president now directly owns 301,395 shares of the company’s stock, valued at approximately $17,170,473.15. The disclosure for this sale can be found here. Insiders sold 48,786 shares of company stock valued at $2,649,197 in the last quarter. Corporate insiders own 0.18% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Doyle Wealth Management bought a new stake in shares of Micron Technology in the 2nd quarter valued at about $30,000. Whittier Trust Co. lifted its position in Micron Technology by 115.2% in the third quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 425 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in Micron Technology in the second quarter valued at approximately $39,000. North Star Investment Management Corp. purchased a new stake in shares of Micron Technology during the third quarter valued at approximately $44,000. Finally, HM Payson & Co. purchased a new stake in shares of Micron Technology during the second quarter valued at approximately $51,000. Institutional investors own 77.28% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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