Micron Technology Inc. (MU) Rating Reiterated by Susquehanna
Micron Technology Inc. (NASDAQ:MU)‘s stock had its “positive” rating reissued by equities researchers at Susquehanna in a report issued on Wednesday. They presently have a $21.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $20.00. Susquehanna’s price objective indicates a potential upside of 17.98% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. MKM Partners reaffirmed a “buy” rating and set a $19.00 target price on shares of Micron Technology in a research report on Monday, June 27th. Brean Capital reaffirmed a “buy” rating and set a $14.00 target price on shares of Micron Technology in a research report on Monday, June 27th. Nomura raised Micron Technology from a “reduce” rating to a “buy” rating and lifted their target price for the company from $8.00 to $18.00 in a research report on Wednesday, June 22nd. Robert W. Baird reaffirmed a “buy” rating and set a $18.00 target price on shares of Micron Technology in a research report on Friday, June 17th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Micron Technology in a report on Friday, June 10th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.20.
Shares of Micron Technology (NASDAQ:MU) traded up 0.815% during mid-day trading on Wednesday, hitting $17.945. The company had a trading volume of 49,374,975 shares. The company has a market capitalization of $18.63 billion, a PE ratio of 51.566 and a beta of 1.77. Micron Technology has a one year low of $9.31 and a one year high of $19.30. The company’s 50-day moving average is $16.90 and its 200 day moving average is $13.23.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the Zacks’ 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 firm earned $3.22 billion during the quarter. During the same period last year, the business posted $0.37 EPS. The company’s revenue was down 10.6% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology will post ($0.01) EPS for the current fiscal year.
In related news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now directly owns 207,265 shares of the company’s stock, valued at approximately $3,533,868.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Credit Capital Investments LLC boosted 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 worth $10,526,000 after buying an additional 9,650,700 shares in the last quarter. Standard Life Investments LTD acquired a new stake in Micron Technology during the second quarter worth approximately $89,591,000. CI Investments Inc. acquired a new stake in Micron Technology during the second quarter worth approximately $86,285,000. Primecap Management Co. CA boosted 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 worth $598,287,000 after buying an additional 5,961,872 shares in the last quarter. Finally, Natixis boosted 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 worth $63,020,000 after buying an additional 2,862,897 shares in the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.
About Micron Technology
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