Micron Technology Inc. (MU) Given a $20.00 Price Target by Susquehanna Analysts
Susquehanna set a $20.00 price target on Micron Technology Inc. (NASDAQ:MU) in a research note published on Thursday morning. The brokerage currently has a a buy rating on the semiconductor manufacturer’s stock.
Several other brokerages have also commented on MU. Mizuho reissued a buy rating and set a $20.00 price objective on shares of Micron Technology in a report on Friday, September 23rd. Sanford C. Bernstein reaffirmed a neutral rating and issued a $18.00 target price on shares of Micron Technology in a research note on Monday, September 26th. Credit Suisse Group AG reaffirmed a buy rating and issued a $20.00 target price on shares of Micron Technology in a research note on Friday, September 9th. Deutsche Bank AG reaffirmed a buy rating and issued a $20.00 target price on shares of Micron Technology in a research note on Friday, September 16th. Finally, Cleveland Research raised Micron Technology from a neutral rating to a buy rating in a research note on Friday, September 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Micron Technology has an average rating of Buy and an average target price of $17.76.
Shares of Micron Technology (NASDAQ:MU) opened at 17.80 on Thursday. The stock’s 50 day moving average is $16.90 and its 200 day moving average is $13.23. The firm has a market cap of $18.48 billion, a P/E ratio of 51.15 and a beta of 1.77. Micron Technology has a 12 month low of $9.31 and a 12 month high of $19.30.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.12. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The company earned $3.22 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Micron Technology’s revenue was down 10.6% on a year-over-year basis. Equities research analysts expect that Micron Technology will post ($0.01) EPS for the current year.
In other Micron Technology news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the sale, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.85% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MU. Credit Capital Investments LLC increased its stake in Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock valued at $10,526,000 after buying an additional 9,650,700 shares during the last quarter. Standard Life Investments LTD purchased a new stake in Micron Technology during the second quarter valued at $89,591,000. CI Investments Inc. purchased a new stake in Micron Technology during the second quarter valued at $86,285,000. Primecap Management Co. CA increased its stake in Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares during the last quarter. Finally, Natixis increased its stake in Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock valued at $63,020,000 after buying an additional 2,862,897 shares during the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.
About Micron Technology
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