Mizuho Reiterates “Outperform” Rating for Micron Technology, Inc. (MU)
Mizuho reiterated their outperform rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research report sent to investors on Friday. The firm currently has a $45.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $40.00.
MU has been the subject of a number of other reports. UBS AG restated an average rating and set a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Loop Capital restated a buy rating and set a $40.00 price objective on shares of Micron Technology in a research report on Friday, June 30th. Needham & Company LLC restated a buy rating and set a $50.00 price objective on shares of Micron Technology in a research report on Friday, June 30th. Instinet restated a buy rating and set a $40.00 price objective on shares of Micron Technology in a research report on Friday, June 30th. Finally, BidaskClub lowered Micron Technology from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Micron Technology has a consensus rating of Buy and an average target price of $45.35.
Micron Technology (MU) opened at 41.49 on Friday. Micron Technology has a 12-month low of $16.45 and a 12-month high of $42.07. The firm has a 50-day moving average of $36.09 and a 200-day moving average of $31.15. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 9.41 and a beta of 1.82.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter last year, the company posted ($0.01) EPS. Micron Technology’s revenue for the quarter was up 90.8% on a year-over-year basis. Equities research analysts forecast that Micron Technology will post $7.58 earnings per share for the current fiscal year.
WARNING: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/10/17/mizuho-reiterates-outperform-rating-for-micron-technology-inc-mu.html.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.47, for a total value of $85,410.00. Following the transaction, the director now directly owns 120,284 shares of the company’s stock, valued at approximately $3,424,485.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ernest E. Maddock purchased 3,400 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the transaction, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 304,415 shares of company stock worth $11,322,305. Company insiders own 0.69% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. grew its holdings in shares of Micron Technology by 249.5% during the 3rd quarter. Eqis Capital Management Inc. now owns 41,606 shares of the semiconductor manufacturer’s stock worth $1,636,000 after purchasing an additional 29,702 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $142,000. Achmea Investment Management B.V. grew its holdings in shares of Micron Technology by 59.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock worth $1,525,000 after purchasing an additional 18,973 shares in the last quarter. Navellier & Associates Inc grew its holdings in shares of Micron Technology by 83.0% during the 2nd quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock worth $10,176,000 after purchasing an additional 154,513 shares in the last quarter. Finally, WFG Advisors LP grew its holdings in shares of Micron Technology by 25.3% during the 2nd quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock worth $348,000 after purchasing an additional 2,350 shares in the last quarter. 79.31% of the stock is currently owned by institutional investors.
Micron Technology Company Profile
Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.