Micron Technology Receives Hold Rating from TheStreet (MU)
Micron Technology (NYSE: MU)‘s stock had its “hold” rating restated by analysts at TheStreet in a research report issued to clients and investors on Thursday.
The analysts wrote, “Micron Technology (MU) has been reiterated by TheStreet Ratings as a hold with a ratings score of C- . The company’s strengths can be seen in multiple areas, such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.”
MU has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Sanford C. Bernstein upgraded shares of Micron Technology to an “overweight” rating in a research note to investors on Wednesday.
Seventeen research analysts have rated the stock with a buy rating, three have assigned an overweight rating, eight have given 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 (NYSE:MU) traded up 1.89% on Thursday, hitting $9.69. Micron Technology has a 1-year low of $5.16 and a 1-year high of $9.66. The stock’s 50-day moving average is currently $8.. The company’s market cap is $9.901 billion.
Micron Technology last posted its quarterly earnings results on Thursday, December 20th. The company reported ($0.27) earnings per share for the quarter, missing the analysts’ 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 prior year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. On average, analysts predict that Micron Technology will post $-0.52 earnings per share for the current fiscal year.
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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