Micron Technology Price Target Increased to $12.00 by Analysts at Roth Capital (MU)
Investment analysts at Roth Capital raised their target price on shares of Micron Technology (NYSE: MU) from $10.00 to $12.00 in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a “buy” rating on the stock.
Micron Technology (NYSE: MU) traded down 2.58% on Friday, hitting $9.435. Micron Technology has a 52-week low of $5.16 and a 52-week high of $9.74. The stock’s 50-day moving average is currently $8.20. The company’s market cap is $9.640 billion.
Micron Technology (NYSE: MU) last announced its earnings results on Thursday, December 20th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.07. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $2.02 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. Analysts expect that Micron Technology will post $-0.52 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Micron Technology in a research note to investors on Thursday. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Thursday. They now have a $11.00 price target on the stock, up previously from $10.00. Finally, analysts at Sterne Agee raised their price target on shares of Micron Technology from $10.00 to $11.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock.
Seventeen investment analysts have rated the stock with a buy rating, three have given an overweight rating, eight have issued a hold rating, and one has given an underweight rating to the company’s stock. The company currently has a consensus rating of “overweight” and a consensus target price of $9.76.
Micron Technology, Inc., is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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