Micron Technology Upgraded by TheStreet to “Buy” (MU)
Micron Technology (NYSE:MU) was upgraded by research analysts at TheStreet to a “buy” rating in a report released on Friday, AmericanBankingNews.com reports.
The analysts wrote, “Micron Technology (MU) has been reiterated by TheStreet Ratings as a buy with a ratings score of B-. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
Micron Technology (NYSE:MU) traded down 1.87% during mid-day trading on Friday, hitting $18.14. 19,055,840 shares of the company’s stock traded hands. Micron Technology has a one year low of $5.16 and a one year high of $18.85. The stock has a 50-day moving average of $15.85 and a 200-day moving average of $12.87. The company’s market cap is $18.838 billion. Micron Technology also was the target of unusually large options trading activity on Monday. Investors purchased 96,183 call options on the stock. This is an increase of approximately 110% compared to the average daily volume of 45,734 call options.
MU has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Micron Technology from $20.00 to $25.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Separately, analysts at Nomura raised their price target on shares of Micron Technology from $14.00 to $16.00 in a research note to investors on Monday, September 30th. They now have a “neutral” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Micron Technology from $20.00 to $24.00 in a research note to investors on Friday, September 27th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.76.
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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