Susquehanna Reiterates Positive Rating for Micron Technology Inc. (MU)
Micron Technology Inc. (NASDAQ:MU)‘s stock had its “positive” rating reiterated by research analysts at Susquehanna in a research note issued on Monday. They presently have a $21.00 target price on the semiconductor manufacturer’s stock. Susquehanna’s price objective would indicate a potential upside of 20.62% from the company’s current price.
A number of other equities research analysts have also issued reports on MU. Pacific Crest restated a “hold” rating on shares of Micron Technology in a report on Sunday, June 26th. Nomura upgraded shares of Micron Technology from a “reduce” rating to a “buy” rating in a report on Thursday, June 23rd. Stifel Nicolaus cut their price target on shares of Micron Technology from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, July 1st. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $16.41 price target on the stock in a report on Wednesday, July 27th. Finally, Barclays PLC restated an “overweight” rating and set a $14.00 price target on shares of Micron Technology in a report on Tuesday, July 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $18.42.
Micron Technology (NASDAQ:MU) opened at 17.41 on Monday. The stock’s market cap is $18.05 billion. The stock has a 50 day moving average of $17.24 and a 200-day moving average of $13.66. Micron Technology has a 52 week low of $9.31 and a 52 week high of $19.05.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The business had revenue of $3.22 billion for the quarter. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts forecast that Micron Technology will post $1.12 earnings per share for the current year.
In other Micron Technology news, VP April S. Arnzen sold 11,424 shares of Micron Technology stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the transaction, the vice president now directly owns 39,993 shares of the company’s stock, valued at $708,675.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian Shirley sold 90,014 shares of Micron Technology stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total transaction of $1,605,849.76. Following the transaction, the vice president now directly owns 397,264 shares of the company’s stock, valued at $7,087,189.76. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MU. Northwestern Mutual Wealth Management Co. boosted its position in Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 3,595 shares during the period. Washington Trust Bank boosted its position in Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares during the period. Evercore Wealth Management LLC boosted its position in Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Commerce Bank bought a new position in Micron Technology during the second quarter worth approximately $147,000. Finally, Rothschild Investment Corp IL boosted its position in Micron Technology by 1.3% in the third quarter. Rothschild Investment Corp IL now owns 11,159 shares of the semiconductor manufacturer’s stock worth $198,000 after buying an additional 139 shares during the period. 81.43% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Company Profile
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