TheStreet Reiterates Buy Rating for Micron Technology (MU)
Micron Technology (NYSE:MU)‘s stock had its “buy” rating restated by research analysts at TheStreet in a report released on Sunday, American Banking News.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.”
In other Micron Technology news, VP Scott Deboer sold 26,750 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $18.60, for a total transaction of $497,550.00. Following the sale, the vice president now directly owns 256,218 shares of the company’s stock, valued at approximately $4,765,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Micron Technology (NYSE:MU) opened at 16.84 on Friday. Micron Technology has a 52-week low of $5.16 and a 52-week high of $18.85. The stock has a 50-day moving average of $16.32 and a 200-day moving average of $13.06. The company’s market cap is $17.488 billion.
Micron Technology (NYSE:MU) last posted its quarterly earnings results on Thursday, October 10th. The company reported $1.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $1.27. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company posted ($0.24) earnings per share. Micron Technology’s revenue was up 44.8% compared to the same quarter last year. Analysts expect that Micron Technology will post $2.21 EPS for the current fiscal year.
MU has been the subject of a number of other recent research reports. Analysts at Raymond James raised their price target on shares of Micron Technology from $20.00 to $24.00 in a research note to investors on Friday. They now have a “strong-buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $14.00 to $17.00 in a research note to investors on Friday. Finally, analysts at Deutsche Bank raised their price target on shares of Micron Technology from $14.00 to $17.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.38.
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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