Micron Technology Given Buy Rating at Jefferies Group (MU)
Micron Technology (NYSE:MU)‘s stock had its “buy” rating restated by Jefferies Group in a research note issued on Wednesday, AnalystRatingsNetwork reports.
Micron Technology (NYSE:MU) opened at 21.73 on Wednesday. Micron Technology has a 52 week low of $7.24 and a 52 week high of $23.67. The stock has a 50-day moving average of $21.50 and a 200-day moving average of $16.98. The company has a market cap of $22.857 billion and a price-to-earnings ratio of 19.23. Micron Technology also saw unusually large options trading on Monday. Investors bought 226,269 call options on the stock. This represents an increase of approximately 141% compared to the average volume of 93,870 call options.
Micron Technology (NYSE:MU) last announced its earnings results on Tuesday, January 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted ($0.27) earnings per share. Micron Technology’s revenue was up 120.4% compared to the same quarter last year. Analysts expect that Micron Technology will post $2.08 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Micron Technology in a research note to investors on Wednesday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Micron Technology from $26.00 to $31.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Micron Technology from $30.00 to $34.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.04.
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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